India Trade Deficit Narrows as Imports Plunge
India's trade deficit narrowed to USD 12.12 billion in November 2019 from USD 17.58 billion in the same month a year ago, as imports slumped 12.71 percent to USD 38.11 billion dragged by transport equipment (-48.53 percent), coal, coke & briquettes (-23.21 percent), organic & inorganic chemicals (-21.07 percent), petroleum, crude & products (-18.17 percent), electronic goods (-3.98 percent). Meanwhile, exports fell 0.34 percent to USD 25.98 billion, despite increases in sales of electronic goods (46.13 percent), drugs & pharmaceuticals (20.60 percent), marine products (9.03 percent), engineering goods (6.32 percent), and organic & inorganic chemicals (2.55 percent). In April-November, the trade deficit narrowed sharply to USD 106.84 billion from USD 133.74 billion to the same period in the previous fiscal year.
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