NEW DELHI: India's merchandise trade deficit widened to a record $37.84 billion in November, driven primarily by surging gold imports and falling exports, a trend experts said threatens to add pressure on the rupee which is already strained by three months of portfolio outflows.
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.
Bu hikaye Hindustan Times Ranchi dergisinin December 18, 2024 sayısından alınmıştır.
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Bu hikaye Hindustan Times Ranchi dergisinin December 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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