Export growth dips to 5.86%, imports decline by 16.3%
12 Dec 2013 12:22 AM GMT
In a set of mixed trade results for November, which were released on Wednesday, the Government announced that exports growth dropped to a five-month low of 5.86 per cent to $24.6 billion, imports declined by 16.3 per cent, and the trade deficit declined to $9.21 billion, the second lowest level in the current fiscal (2013-14).
While the dampening export performance was due to to a fall in petroleum goods and rough diamonds shipments in November, the impressive drop in imports was the result of sharp fall in gold and silver imports. The lowest trade gap for this fiscal was $6.76 billion recorded in September.
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Gold and silver imports in November dipped by 80.49 per cent to $1.05 billion from $5.4 billion in the same period last year.
While the dampening export performance was due to to a fall in petroleum goods and rough diamonds shipments in November, the impressive drop in imports was the result of sharp fall in gold and silver imports. The lowest trade gap for this fiscal was $6.76 billion recorded in September.
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Gold and silver imports in November dipped by 80.49 per cent to $1.05 billion from $5.4 billion in the same period last year.
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