India’s trade deficit widens to $16.8 billion
Moneylife Digital Team 16 December 2014

Gold imports stood at $5.61 billion in November this year as against $835.83 million in the corresponding month in 2013, according to the data released by the Commerce Ministry

The Ministry of Commerce and Industry released figures of India's balance of trade yesterday, 16 December. India's trade deficit widened to one-and-a-half year high of $16.86 billion in November 2014 due to over six-fold jump in gold imports even as merchandise exports grew by 7.27%. Trade deficit in November last year was $9.57 billion. Gold imports stood at $5.61 billion in November this year as against $835.83 million in the corresponding month in 2013, according to the data released by the Commerce Ministry.
Total imports in November, including oil, jumped by 26.79% to $42.82 billion. Oil imports have dipped by 9.7% to $11.71 billion. Non-oil imports, however, grew by 49.6% to $31.10 billion. Merchandise exports grew to $25.96 billion after recording a contraction in October.
During April-November 2014, imports were up 4.65% to $316.37 billion, while exports were up 5.02% to $215.75 billion. Trade deficit during this period stood at $100.61 billion as against $96.89 billion in the same period last fiscal.
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