Trade deficit widens to $16.8 billion in November, gold imports surge 6-fold

Country's trade deficit widened to one-and-a-half year high of $16.86 billion in November due to over six-fold jump in gold imports even as merchandise exports grew by 7.27 per cent.

Trade deficit in November last year was $9.57 billion.

Gold imports stood at $5.61 billion in November this year as against $835.83 million in the corresponding month in 2013, according to the data released by the Commerce Ministry.

Total imports in November, including oil, jumped by 26.79 per cent to $42.82 billion.

Oil imports dipped by 9.7 per cent to $11.71 billion.

Non-oil imports, however, grew by 49.6 per cent to $31.10 billion.

Merchandise exports grew to $25.96 billion after recording a contraction in October.

During April-November, imports were up 4.65 per cent to $ 316.37 billion, while exports were up 5.02 per cent to $215.75 billion.

Trade deficit during this period stood at $ 100.61 billion as against $ 96.89 billion in the same period last fiscal.