India’s trade deficit narrowed to $12.12 billion in November from $17.58 billion a year ago, according to commerce ministry figures released on Friday.
Merchandise exports contracted for the fourth consecutive month in November to $25.98 billion, while imports fell to $38.11 billion.
Exports of cashew fell 33.9% and oil meals by 54.59%. Electronic goods exports, however, grew by 46.13%, drugs and pharmaceuticals by 20.60%, engineering goods 6.32% and marine products by 9%.
Among major imports, coal fell 23.6%, petroleum 18.6%, chemicals 15.11%, newsprint by 43.3%, non-ferrous metals by 12.3%, iron and steel 26.5%, and electronic goods shrank by 4.5%. However, gold imports picked up by 6%.