India’s goods exports slipped back into contraction to drop 2.83% in November to $33.9 billion, while imports fell by a sharper 4.33% to $54.48 billion.
Exports had recorded only their second uptick this year in October, and though the value of outbound shipments was up 1.1% on a month-on-month basis, they still marked the second-weakest level since November 2022.
The trade deficit for November eased sharply beyond expectations to $20.58 billion from the all-time high of $29.91 billion recorded in October. November’s trade deficit is 6.7% lower on a year-on-year basis and 31.2% below October’s tally.
