The country’s merchandise exports grew at a modest rate in November 2022 after a sharp fall in October, the latest data shared by the commerce ministry shows. India’s merchandise exports in November grew to $31.99 billion as compared to $31.80 billion in the year-ago period. India’s merchandise exports shrunk 16.7% year-on-year to $29.8 billion in October 2022. The country’s merchandise imports surged 5.3% to $55.88 billion as compared to $53.03 billion a year before.

The merchandise trade deficit for the April-November 2022 stood at $198.35 billion against $115.39 billion in the same period last year. In November 2022, the export trade deficit was $23.89 billion as compared to $21.23 billion in the same period last year.

India’s merchandise exports exhibited a positive (y-o-y) growth in 15 out of 30 sectors in November and imports also surged in 19 out of 30 sectors (y-o-y). Among the QE commodity groups, electronic goods (54.48%), rice (19.16%), ceramic products & glassware (22.64%), fruits and vegetables (25.01%), cereal preparations & miscellaneous processed (22.75%), other cereals (53.78%), oil seeds (38.83%), oil meals (17.55%), tobacco (101.02%), and tea (27.03%) recorded positive growth.

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