India's exports rise 26.5 % in November

India's exports rose 26.5 % to $18.89 billion in November while imports increased by 11.2 % to $27.79 billion, narrowing the trade deficit to $8.9 billion in the month, official data showed today.

India's exports rose 26.5 % to $18.89 billion in November while imports increased by 11.2 % to $27.79 billion, narrowing the trade deficit to $8.9 billion in the month, official data showed on Monday.

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Cumulative value of exports for the period April-November 2010 was $140.29 billion as against $110.69 billion during the corresponding period a year ago, registering a growth of 26.7 %, according to data released by the commerce and industry ministry on Monday.

The government targets $200 billion exports during the fiscal 2010-11.

Imports in November increased 11.2 % to $27.79 billion as compared with $24.99 billion during the same month in 2009.

Trade deficit declined to $8.9 billion in November from $9.7 billion in October. India's trade deficit had widened to a 23-month high of $13.06 billion in August 2010.

Cumulative value of imports for the period April-November 2010 was $221.96 billion as against $179.06 billion during the same period in the previous year, registering a growth of 24 %.

Oil imports during the first eight months of fiscal 2010-11 rose 21.4 % to $64.85 billion while in November they increased a tad 2.31 % to $7.72 billion.

Non-oil imports rose 25.04 % to $157.11 billion during April-November 2010 period year-on-year while non-oil imports in November increased 15.05 % to $20.07 billion.

Commerce Secretary Rahul Khullar said recently trade deficit during fiscal 2010-11 was likely to remain in the range of $120 to $135 billion.

Trade deficit during April-November 2010 rose to $81.67 billion as against $68.37 billion during the same period in 2009.