India’s exports fell by 9.4%, to $11.5 billion in November 2008, against $12.7 billion in a corresponding month a year ago while imports increased by 6.1% in a period, to $21.5 billion compare to last year period.
The country’s total exports grew by 19.4%, to $119.30 billion for the eight months ended November 2008 against last year period while at the same time the imports soared by 33%, to $203.64 billion compared to the year ago period. The trade deficit for the period has increased to $84.34 billion from $53.19 billion in the year ago period.
Drastic fall in exports has resulted on account of severe recession in the US and European countries. While the country’s imports rose by 6.1% in the month leading to trade deficit of $84.34 bn