New Delhi, December 16 (IANS). India’s total exports (including goods and services) have increased by 9.59 percent year-on-year to $ 67.79 billion in November 2024. This information was given by the Ministry of Commerce and Industry on Monday.
The cumulative value of India’s merchandise exports during the April to November period this year has increased by 2.17 percent year-on-year to $284.31 billion, which was $278.26 billion in the same period last year.
According to official data, merchandise exports during November 2024 stood at $32.11 billion, which was $33.75 billion in November 2023. A slight decline was recorded in this. The main reason for this is the decline in petroleum exports.
Exports of non-petroleum goods stood at $28.40 billion in November, which was $26.36 billion in November 2023. There has been an increase of 7.75 percent on annual basis.
Engineering goods, rice, marine products and ready-made garments led the merchandise export growth in November 2024, despite disruption in shipping routes due to global instability.
Exports of electronic goods increased by 54.72 percent from $ 2.24 billion in November 2023 to $ 3.47 billion in November 2024. Exports of engineering goods increased by 13.75 percent from $ 7.82 billion in November 2023 to $ 8.90 billion in November 2024.
Rice exports increased by 95.18 percent from $0.59 billion in November 2023 to $1.14 billion in November 2024.
Marine product exports increased by 17.82 percent from $0.64 billion in November 2023 to $0.76 billion in November 2024.
Exports of readymade garments increased by 9.81 percent from $1.02 billion in November 2023 to $1.12 billion in November 2024.
According to official data, total imports (combining goods and services) in November 2024 are estimated at $ 87.63 billion, showing a positive growth of 27.47 percent as compared to November 2023.
Gold imports reached an all-time high of $14.8 billion in November 2024. Due to the surge in gold imports, the merchandise trade deficit has increased from $ 27.14 billion to $ 37.84 billion in November.
–IANS
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