India's Export Figures Reach $67.8 Billion in November
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New Delhi, Dec 16 (NationPress) India's total exports (covering both merchandise and services) for November 2024 are estimated to be $67.79 billion, which shows a growth of 9.59% compared to November 2023, according to an announcement made by the Ministry of Commerce and Industry on Monday.
The overall value of merchandise exports from April to November 2024 stands at $284.31 billion, compared to $278.26 billion during the same period in 2023, indicating a positive growth of 2.17%.
Nevertheless, merchandise exports for November 2024 registered $32.11 billion, a slight decline from $33.75 billion in November 2023, primarily attributed to the decrease in petroleum exports.
In contrast, non-petroleum merchandise exports in November reached $28.40 billion, reflecting a 7.75% increase when compared to $26.36 billion in November 2023, as per official data.
The key contributors to the growth of merchandise exports in November 2024 include electronic goods, engineering products, rice, marine exports, and ready-made garments of all textiles, despite ongoing geopolitical issues affecting shipping.
Exports of electronic goods saw a remarkable increase of 54.72%, climbing from $2.24 billion in November 2023 to $3.47 billion in November 2024. Engineering goods exports rose by 13.75%, from $7.82 billion in November 2023 to $8.90 billion in November 2024.
Rice exports surged by 95.18%, increasing from $0.59 billion in November 2023 to $1.14 billion in November 2024.
Marine product exports experienced a growth of 17.82%, rising from $0.64 billion in November 2023 to $0.76 billion in November 2024.
Ready-made garments of all textiles exports increased by 9.81%, from $1.02 billion in November 2023 to $1.12 billion in November 2024.
According to official statistics, total imports (including merchandise and services) for November 2024 are estimated at $87.63 billion, reflecting a positive growth of 27.47% when compared to November 2023. Notably, gold imports in November reached a record $14.8 billion.
Total imports for the period from April to November 2024 are estimated at $619.20 billion, showing a growth of 9.55%.
The merchandise trade deficit widened to $37.84 billion in November, up from $27.14 billion, primarily due to the spike in gold imports.
