Trade deficit in November rises to Rs 88,000 crore

Oil imports during November, 2016 were valued at $6837.76 million which was 5.89% higher than oil imports valued at $6457.37 million in November 2015.

Last month, the imports jumped by 12.96% to Rs 2.23 lakh crore. Photo: Pixabay

Overall trade deficit for the current fiscal rose to Rs 87,973.38 crore in November as compared to Rs 68,335.26 crore during the same period last year, said Ministry of Commerce & Industry.

The Ministry on Thursday, released a data which showed that taking merchandise and services together, overall trade deficit for April- November period dropped to Rs 4.43 lakh crore as against Rs 5.71 lakh crore during April-November period last year.

EXPORTS

TRENDING NOW

In the month of November the exports (including re-exports) rose by 4.63% (in terms of crores) to Rs 1.35 lakh crore as compared to Rs 1.29 lakh crore in November 2015.

Till now, from April-November, the exports increased by 3.92% (in terms of crores) to Rs 11.71 lakh crore as against Rs 11.27 lakh crore respectively during the same period last year.

IMPORTS

Last month, the imports jumped by 12.96% (in terms of crore) to Rs 2.23 lakh crore as compared to Rs 1.97 lakh crore respectively in November, 2015.

During the period April-November, the imports declined by 4.91% (in terms of crore) to Rs 11.71 lakh crore as against Rs 11.27 lakh crore during the same period last year.

Oil imports during November, 2016 were valued at $6837.76 million which was 5.89% higher than oil imports valued at $6457.37 million in November 2015. Oil imports during April-November, 2016-17 were valued at $53276.41 million which was 13.51% lower than the oil imports of $61596.76 million in the corresponding period last year.

Non-oil imports during November, 2016 were estimated at $26180.69 million which was 11.7% higher than non-oil imports of $23439.04 million in November, 2015. Non-oil imports during April-November 2016-17 were valued at $187825.19 million which was 6.89% lower than the level of such imports valued at $201717.60 million in April-November, 2015-16.

Moreover, as per the data released by the Reserve Bank of India, exports during October 2016 were valued at $13113 million (Rs 87,526.26 crore) registering a negative growth of 4.79% in dollar terms as compared to positive growth of 2.93% during September 2016.

Imports during October 2016 were valued at $7680 million (Rs 51262.23 Crore) registering a negative growth of 7.51% in dollar terms as compared to positive growth of 3.10% during September 2016.

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