Trade deficit in October stood at $27.1 billion and experts polled by news agencies Reuters and Bloomberg had estimated November's figure to be around $23 billion. The rupee closed at a record low on Monday, falling 0.1% to 84.8712 per dollar.
Overall, the data released on Monday showed, goods exports in November declined 4.85% to $32.11 billion from $33.75 billion a year ago. Imports, however, surged by 27% to $69.95 billion compared to $55.06 billion in November 2023, mainly due to record gold imports.
Gold imports jumped a staggering 332% to $14.86 billion in November 2024 compared to $3.44 billion in the same period last year. This surge came despite a 26.26% fall in gems and jewellery exports to $2.06 billion, suggesting gold imports were mainly for domestic consumption rather than value addition for exports, according to an expert who requested anonymity.
Petroleum product exports contracted sharply by 49.7% to $3.72 billion in November 2024, on account of softening international oil prices, though India's petroleum exports grew in quantitative terms.
Bu hikaye Hindustan Times Gurugram dergisinin December 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times Gurugram dergisinin December 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Food, drinks, and soulful beats set the mood for Odella's launch
It was a starry weekend in Green Park as founders Nipun Khanna and Samir Aggarwal hosted the grand launch of Odella.
India has every reason to be proud: Shahana on Santosh being shortlisted for Oscars nom
Actor Shahana Goswami's film Santosh, has inched closer to being nominated for the International Feature Film category in the 2025 Academy Awards.
Unbreakable Santosh back to rallying with an eye on Dakar
Astride a rally spec of Royal Enfield Himalayan 450, CS Santosh was riding through the dirt on the banks of the Egidillo river in Spain when memories of him flying through the dunes at the Dakar Rally flashed across his mind.
Caught Rahane, bowled Ashwin
Given a choice, R Ashwin would have liked to have Ajinkya Rahane permanently at slips for his bowling, such was their combination.
Now, becoming the best player in the world is what I care about most
What must it be like to fulfil your life's greatest dream at 18? It's been less than a week since Gukesh D became world champion, beating China's Ding Liren, and the Indian teen is still wrapping his head around this delightful predicament.
India leave the Gabba with honours even
At almost all times during the Brisbane Test, Australia were ahead of the game.
Thinking bowler who could at will outwit batsmen
The off-spinners' club lost its brightest star when R Ashwin announced his retirement in Brisbane on Wednesday.
Nissan, Honda may gain in India from potential merger
MERGER COULD ALIGN THE FIRMS' ELECTRIFICATION AND SOFTWARE DEVELOPMENT COLLABORATION
Donald Trump threatens to impose reciprocal tax on India
US President-elect Donald Trump has said that India charges \"a lot\" of tariff, reiterating his intention to impose reciprocal tariffs in retaliation for what New Delhi will impose on the import of certain American products.
INDIA'S RECORD GOLD IMPORT WAS DUE TO AN ERROR IN CALCULATION
A surge in gold imports that widened India's trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.
