India’s total exports, including merchandise and services, reached $67.79 billion in November 2024, reflecting a 9.59 percent growth compared to November 2023, according to the Ministry of Commerce and Industry.

Merchandise exports during April-November 2024 totaled $284.31 billion, a 2.17 percent increase from $278.26 billion during the same period in 2023. However, merchandise exports for November 2024 amounted to $32.11 billion, down from $33.75 billion in November 2023, mainly due to reduced petroleum exports. Non-petroleum merchandise exports in November 2024 stood at $28.40 billion, marking a 7.75 percent growth from $26.36 billion in November 2023.

Key contributors to export growth in November 2024 included electronic goods, engineering goods, rice, marine products, and ready-made garments. Electronic goods exports rose by 54.72 percent, reaching $3.47 billion from $2.24 billion in November 2023. Engineering goods exports grew by 13.75 percent to $8.90 billion from $7.82 billion, while rice exports nearly doubled to $1.14 billion from $0.59 billion. Marine product exports increased to $0.76 billion, and ready-made garment exports reached $1.12 billion.

Total imports, including merchandise and services, for November 2024 were estimated at $87.63 billion, representing a 27.47 percent increase from November 2023. Gold imports for the month peaked at $14.8 billion. Total imports for April-November 2024 were estimated at $619.20 billion, reflecting a 9.55 percent rise.

The merchandise trade deficit widened to $37.84 billion in November 2024 from $27.14 billion, driven by the rise in gold imports.