New Delhi, Dec 15 (Bureau) In a sustained momentum of growth in outbound shipments, India’s exports (merchandise and services combined) at USD 50.36 billion in November 2021 grew 22.80 per cent over the same period last year and 15.53 per cent over November 2019. Imports in November 2021 are estimated to be USD 64.75 billion, a growth of 48.54 per cent over the same period last year and 30.90 per cent over November 2019, data released by the Ministry of Commerce & Industry showed. Merchandise exports in November 2021 were USD 30.04 billion as compared to USD 23.62 billion in November 2020, exhibiting a growth of 27.16 per cent. Merchandise imports in November 2021 were USD 52.94 billion, which is an increase of 56.58 per cent over imports of USD 33.81 billion in November 2020, widening the trade deficit to $22.91 billion.
India exported USD 418.74 billion of goods and services in the first eight months (April-November) of this fiscal, a growth of 37.21 per cent over the same period last year and a positive growth of 19.13 per cent over April-November 2019. In the same period of this fiscal, India’s overall imports at USD 472.95 billion are 61.02 per cent more than imports in the same period of FY 21 and show 15.39 per cent growth over April-November 2019. President of the Federation of Indian Export Organisations A Sakthivel attributed the monthly growth of more than 27.16 per cent in India’s November exports to continuous resilience of India’s exports sector.
“The top sectors which performed impressively during the month were petroleum products, engineering goods, organic and inorganic chemicals, cotton yarn/fabrics/made-ups, handloom products etc., electronic goods, marine products, plastic and linoleum, man-made yarn/fabs./made-ups etc., leather and leather products and RMG of all textiles,” said Sakthivel, adding that imports yet again clocking over USD 52.94 billion during the month with a very high growth is a point of concern and should be analysed. Merchandise exports for the period April-November 2021 was USD 263.57 billion as against USD 174.16 billion during the period April-November 2020, registering a growth of 51.34 per cent. Merchandise imports for the period April-November 2021 was USD 384.34 billion as against USD 219.82 billion during the period April-November 2020, registering a positive growth of 74.84 per cent. The merchandise trade balance for April-November 2021 was at USD 120.76 billion as against USD 45.66 billion in April-November 2020, which is a decline of 164.49 per cent. Official figures show non-petroleum and non-gems and jewellery exports in November 2021 at USD 23.68 billion, registering a growth of 22.26 per cent over non-petroleum and non-gems and jewellery exports of USD 19.37 billion in November 2020.