Trade deficit narrows, imports dip to lowest in 2.5 years

Trade deficit during November stood at $9.22 billion as against $17.2 billion in the same month last year, while imports dipped to the lowest level in more than two and a half years.

India's exports grew by 5.86% in November to $24.6 billion, while imports dipped to the lowest level in more than two and a half years, helping narrow the trade deficit.

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Imports in November this year fell by 16.37% to $33.83 billion, which is the lowest figure since March 2011, Director General of Foreign Trade Anup Pujari told reporters here.

Trade deficit during the month under the review stood at $9.22 billion as against $17.2 billion in the same month last year.

Gold and silver imports in November 2013 dipped to $1.05 billion from $5.4 billion in the same period last year.

During April-November period this fiscal, the imports aggregated at $25.5 billion. It was $33.5 billion in November 2012.