Wednesday, February 28, 2024

India’s Exports grew by 1.2 % in November 2023: PHD Chamber of Commerce and Industry

India’s exports (merchandise+services) grew by 1.2% in November 2023. Overall exports were USD 61.8 billion in November 2022. It has now increased to 62.5 billion in November 2023.

India’s overall imports fell sharply by (-) 6.1 % to USD 67.8 Billion in November 2023 compared to USD 72.3 Billion in November 2022. India’s overall trade balance has improved to USD (-)5.3 Billion in November 2023 compared to USD (-)10.5 Billion in November 2023.

India’s Merchandise exports for the month of November 2023 declined by (-) 2.8% as compared to November 2022. Merchandise exports in November 2023 are USD 33.9 billion compared to USD 34.8 billion in November 2022 whereas imports in November 2023 are USD 54.4 billion, as compared to USD 56.9 billion in November 2022 thus showing a fall of (-) 4.3%.

Service exports for the month of November 2023 stood at USD 28.6 billion as compared to USD 26.9 billion in November 2022, thus registering Y-o-Y growth of 6.5%. Service imports for November 2023 are USD 13.4 billion compared to USD 15.4 billion in November 2022, thus showing a decline of (-)13%.

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