India's November exports marginally up, imports rise over 4%

New Delhi : India's merchandise exports grew marginally in November on a year-on-year basis, official data showed on Friday.

According to data released by the Ministry of Commerce and Industry, India's November 2018 exports increased to $26.50 billion from $26.29 billion reported for the corresponding month of 2017.

"Cumulative value of exports for the period April-November 2018-19 was $217.52 billion as against $194.93 billion during the period April-November 2017-18, registering a positive growth of 11.58 per cent in dollar terms," the Ministry said in its review statement.

"Non-petroleum and non-gems and jewellery exports in November 2018 were $18.57 billion, as compared to $19.32 billion in November 2017, exhibiting a negative growth of 3.93 per cent."

As per the data, petroleum products, organic and inorganic chemicals, drugs and pharmaceuticals and electronic goods showed a high export growth during the month under review.

On the other hand, imports in November grew by 4.31 per cent to $43.17 billion.

"Oil imports in November 2018 were $13.49 billion, which was 41.31 percent higher in dollar terms, compared to $9.55 billion in November 2017," the statement said.

Global Brent crude oil price has increased by 4.16 per cent in November 2018 vis-à-vis November 2017.

"Non-oil imports in November 2018 were estimated at $29.68 billion which was 6.79 per cent lower in dollar terms, compared to $31.84 billion in November 2017," the statement said.

"Non-oil and non-gold imports were $26.92 billion in November 2018, recording a negative growth of 5.78 per cent, as compared to non-oil and non-gold imports in November 2017."