Exports decline for second month in a row, trade deficit at ten-month high

Exports fell sharper at 8.7% in November from 5.1% in October, as demand remained muted in major overseas markets due to Covid-induced lockdowns

The September revival in exports proved a blip with outbound shipments contracting for the second straight month in November. Exports fell sharper at 8.7 per cent in November than 5.1 per cent in October, as major overseas markets continued to witness muted demand due to Covid-induced lockdowns. 

When exports rose by 6 per cent in September after a decline in six straight months, it looked as if they had started recovering. In fact, exports had risen only in February and September in the current calendar year so far.

Exports stood at $23.52 billion in November compared to $25.77 billion in