India's exports declined by 4.17 per cent to 22.2 billion US Dollars in November, due to slowdown in demand in the US and European markets.Exports in November, 2011 stood at 23.2 billionUS Dollars.However imports grew by 6.35 per cent to 41.5 billion US Dollars in November, leaving a trade deficit of 19.28 billion US Dollars . During the April-October 2012-13, the country's shipments have shrunk by 5.95 per cent to 189.2 billionUS Dollars.Imports during the period dipped by 1.58 per cent to 318.7 billionUS Dollars .Commerce Secretary S R Rao said, by end of the week, the government will announce some support measures to provide cushion to exporters.
He said,the country's import bill has increased due to jump in petroleum imports.During the first eight months of this financial year, the trade deficit stood at 129.5 billionUS Dollars.
Oil imports in November increased by 16.7 per cent year- on-year to 14.5 billion US Dollars.Non-oil imports grew by 1.5 per cent to 27 billion US Dollars.