Exports rose for the third straight month in November, recording a growth of 2.29 per cent, though the trade deficit shot up to about two-year high of USD 13 billion mainly due to increase in gold imports.
Exports of engineering products rose by 14.10 per cent, petroleum by 5.73 cent and chemicals by 8.3 per cent compared to the same month last year, according to official data released on 16th Dec.
Imports too increased by 10.44 per cent to USD 33 billion. Rise in gold imports by 23.24 per cent to USD 4.36 billion in November pushed the trade deficit to a two-year high of USD 13 billion as against USD 10.33 billion in the same month last year.
It was in November 2014 when trade deficit hit a high of USD 16.86 billion.
Exporters body FIEO said that although growth is encouraging, uncertain global conditions still remains a challenge.
