Exports stage smart recovery, up 31% in November

New Delhi: India's exports recorded a robust growth of 30.55 percent to USD 26.19 billion in November, mainly on account of rise in shipments of  engineering, chemicals, and petroleum products, government data showed on Friday.

Imports too rose by 19.61 percent to USD 40.02 billion in November from USD 33.46 billion in the year-ago month, according to the data released by the Commerce Ministry.

The trade deficit widened to USD 13.82 billion in the month under review from USD 13.39 billion in November 2016. It was at three-year high of USD 14 billion in October.

Oil and non-oil imports grew by 39.14 percent and 14.57 percent to USD 9.55 billion and USD 30.47 billion, respectively in November.

Gold imports dropped by 25.96 percent to USD 3.26 billion last month.

Cumulative exports during April-September 2017-18 increased by 12.01 percent to USD 196.48 billion, while imports grew by 25.08 percent to USD 296.45 billion, leaving a trade deficit of USD 99.97 billion.

"Exports during November 2017 have exhibited high positive growth of 30.55 percent in dollar terms. This is on the pattern of positive growth in exports in last thirteen months with a dip of 1.12 percent in October 2017, " the Ministry said in a statement.

India's exports had entered the negative terrain after over an year, contracting 1.12 percent in October primarily due to liquidity problem being faced by exporters following rollout of the Goods and Services Tax.