Merchandise exports during April-November 2024 rise
India’s total exports (merchandise and services combined) for November 2024 are estimated to be valued at USD 67.79 billion, registering a positive growth of 9.59% vis-à-vis November 2023. Total imports (merchandise and services combined) for November 2024 are estimated at USD 87.63 billion, registering a positive growth of 27.47% vis-à-vis November 2023.
Total exports during April-November 2024 are estimated at USD 536.25 billion, registering a positive growth of 7.61%. Total imports during April-November 2024 are estimated at USD 619.20 billion, registering a growth of 9.55%.
Merchandise
Merchandise exports during November 2024 were USD 32.11 billion as compared to USD 33.75 billion in November 2023. Merchandise imports during November 2024 were USD 69.95 billion as compared to USD 55.06 billion in November 2023.
Merchandise exports during April-November 2024 were USD 284.31 billion as compared to USD 278.26 billion during April-November 2023. Merchandise imports during April-November 2024 were USD 486.73 billion as compared to USD 449.24 billion during April-November 2023.
Merchandise trade deficit during April-November 2024 was USD 202.42 billion as compared to USD 170.98 billion during April-November 2023.
Non-petroleum and non-gems & jewellery exports in November 2024 were USD 26.33 billion compared to USD 23.55 billion in November 2023.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in November 2024 were USD 37.36 billion compared to USD 35.20 billion in November 2023.
Non-petroleum and non-gems & jewellery exports in April-November 2024 were USD 220.47 billion compared to USD 201.83 billion in April-November 2023.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-November 2024 were USD 299.13 billion compared to USD 283.77 billion in April-November 2023.
Services
The estimated value of services export for November 2024 was USD 35.67 billion as compared to USD 28.11 billion in November 2023. The estimated value of services imports for November 2024 was USD 17.68 billion as compared to USD 13.68 billion in November 2023.
The estimated value of service exports during April-November 2024 was USD 251.94 billion as compared to USD 220.08 billion in April-November 2023. The estimated value of service imports during April-November 2024 was USD 132.47 billion as compared to USD 116.01 billion in April-November 2023.
The services trade surplus for April-November 2024 was USD 119.48 billion as compared to USD 104.07 billion in April-November 2023.
Commodities
Exports of Rice (95.18%), Electronic Goods (54.72%), Tobacco (50.48%), Jute Mfg. Including Floor Covering (36.13%), Cashew (23.61%), Meat, Dairy & Poultry Products (21.38%), Marine Products (17.82%), Coffee (16.31%), Tea (15%), Engineering Goods (13.75%), Plastic & Linoleum (10.91%), Rmg of all Textiles (9.81%), Other Cereals (7.4%), Spices (6.1%), Man-Made Yarn/Fabs./Made-Ups etc. (4.88%), Cereal Preparations & Miscellaneous Processed Items (2.71%), Carpets (2.4%), Oil Seeds (2.19%), Cotton Yarn/Fabs./Made-Ups, Handloom Products etc. (2.02%), Drugs & Pharmaceuticals (1.12%) and Leather & Leather Products (0.73%) recorded positive growth during November 2024 over the corresponding month of last year.
Imports of Leather & Leather Products (-41.59%), Coal, Coke & Briquettes, etc. (-29.31%), Iron & Steel (-28.63%), Dyeing/Tanning/Colouring Mtrls. (-5.26%), Transport Equipment (-5.23%), Pearls, Precious & Semi-Precious Stones (-3.27%), Metaliferrous Ores & Other Minerals (-0.86%) recorded negative growth during November 2024 over the corresponding month of last year.
Destinations, sources
The top 5 export destinations, in terms of change in value, exhibiting positive growth in November 2024 vis-à-vis November 2023 were the UAE (11.38%), Australia (64.38%), Italy (37.71%), Singapore (22.88%) and Malaysia (27.31%).
The top 5 export destinations, in terms of change in value, exhibiting positive growth in April-November 2024 vis-à-vis April-November 2023 were the UAE (15.25%), Netherlands (23.04%), USA (5.27%), Singapore (20.7%) and the UK (15.21%).
The top 5 import sources, in terms of change in value, exhibiting growth in November 2024 vis-à-vis November 2023 were Switzerland (360.02%), the UAE (109.57%), South Africa (217.33%), Australia (71.91%) and Saudi Arabia (35.64%).
The top 5 import sources, in terms of change in value, exhibiting growth in April-November 2024 vis-à-vis April-November 2023 were the UAE (60.84%), China (9.81%), Russia (9.22%), Switzerland (21.83%) and Taiwan (42.82%), informed a Ministry of Commerce and Industry release.
Source: Exim News Service: New Delhi, Dec. 17