Country’s exports increase by 26%

The country’s exports of goods grew 26.49 per cent to $29.88 billion in November. Good growth in sectors such as engineering, petroleum, chemicals and marine products has boosted exports. Exports stood at $23.62 billion in November last year. According to provisional data released by the government, imports stood at $53.15 billion in November. This is 57.18 percent higher than last year’s $33.81 billion in the same month. This resulted in a trade deficit of $ 23.27 billion. The Commerce Ministry said, “India’s export of goods stood at $ 262.46 billion in April-November, 2021.

This is an increase of 50.71 per cent against $174.15 billion during April-November last year. Whereas in April-November, 2019, it is 24.29 percent higher as compared to $ 211.17 billion. The trade deficit stood at $121.98 billion in the first eight months of the current fiscal. According to the data, the trade deficit more than doubled to $ 23.27 billion in November. The reason for this is the increase in gold imports by about 8 percent to $4.22 billion. The trade deficit (the difference between exports and imports) stood at $10.19 billion in November last year. Exports of engineering goods, which account for 28.19 percent of total exports, jumped 37 percent year-on-year to $8 billion in the month under review.
Petroleum products exports grew 145.3 percent year-on-year to $3.82 billion. However, gems and jewelery exports declined 11 per cent to $2.4 billion in November. According to the data, in terms of imports, the import of ‘petroleum, crude oil and products’ grew by 132.44 percent to $ 14.68 billion in the month under review. Imports of coal, coke and briquettes (products made from pulverized coal used as fuel) grew by 135.81 per cent to $3.58 billion in November this year. Updated trade data will be released later this month. What is V Shape Recovery Month on Month, Quarter on Quarter sequential growth is called V shape. Our economy is about 50 lakh crores every quarter. 50 lakh crores came down due to Kovid. Due to the steps of the government, it started moving up, so the shape you are seeing is called V shape. We are in a we shape recovery, we have already traveled the large part of that we shape and now we are in growth phase. The most important role in V shape recovery is that of employment. The government is pouring money into sectors like infrastructure, manufacturing. A capital expenditure of Rs 5.54 lakh crore has been kept in the budget.