Exports Up 19.37% to $38.13Bn in Nov; Trade Deficit at 5-Month Low of $24.53Bn

India's exports rebounded by 19.37 per cent to USD 38.13 billion in November after contracting in October, driven by higher shipments of engineering and electronics goods that helped bring down the trade deficit to a five-month low of USD 24.53 billion.

According to government data released on Monday, the country's imports dipped by 1.88 per cent to USD 62.66 billion due to a fall in the inbound shipments of gold, crude oil, coal, and coke during the month under review.

The dip in imports also helped narrow the country's trade deficit (difference between imports and exports) in November. The previous low was USD 18.78 billion in June this year. The trade deficit stood at a record USD 41.68 billion in October.

Cumulatively, exports during April-November were up 2.62 per cent to USD 292.07 billion, while imports during the eight months rose by 5.59 per cent to USD 515.21 billion. The deficit stood at USD 223.14 billion.

Briefing reporters on the data, Commerce Secretary Rajesh Agrawal said that outbound shipments in November offset the losses in October this year. "November has been a good month for exports," he said.

Federation of Indian Export Organisations (FIEO) President S C Ralhan said during April-November 2025, the US remained India's top export destination, despite the imposition of a 50 per cent tariff, clearly demonstrating the resilience and adaptability of the exporting community.

Other major export destinations during this period included the UAE, the Netherlands, China, the UK, Germany, Singapore, Bangladesh, Saudi Arabia, and Hong Kong.

"Diversification of export markets, along with the continued resilience of several key sectors, has played a crucial role in supporting export growth. With sustained policy support, enhanced logistics efficiency, and access to competitive export financing, India's exports are well-positioned to maintain this positive trajectory in the coming months," he said.