Summary:

From April to November 2024, India's exports are expected to reach US$ 536.25 billion, marking a growth of 7.61% from US$ 498.33 billion in 2023. Merchandise exports stood at US$ 284.31 billion, reflecting a 2.17% increase. Significant contributions in November came from electronic goods, engineering goods, rice, marine products, and textiles. Total exports, including services, are estimated at US$ 67.79 billion in November 2024, while imports rose by 27.47% to US$ 87.63 billion.

India's goods trade deficit for April to November 2024 stands at US$ 202.42 billion, compared to US$ 170.98 billion in 2023. Non-petroleum and non-gem exports totaled US$ 26.33 billion in November 2024. Service exports for November are estimated at US$ 35.67 billion, showing a 27% increase. Between April and November 2024, service exports are projected at US$ 251.94 billion, with a trade surplus of US$ 119.48 billion, highlighting strong export growth and robust global demand.

Source: IBEF

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