India: Merchandise exports fall at a sharper pace in November
Merchandise exports sank 8.7% annually in November, on the heels of October’s 5.1% dive. Meanwhile, merchandise imports slid 13.3% in annual terms in November (October: -11.5% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 9.9 billion deficit in November (October 2020: USD 8.7 billion; November 2019: USD 12.8 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 88.7 billion deficit in November, compared to the USD 91.5 billion deficit in October.