India trade deficit narrows to $9.22bn in November

India's trade deficit narrowed to USD 9.22 billion in November versus USD 10.56 billion a month ago and USD 17.2 billion, a year ago on the back of improved exports and falling imports. On an annual basis, exports in November rose 5.8 percent at USD 24.61 billion. However, it stood at USD 24.61 billion against USD 27.27 billion in October. Imports in November fell to USD 33.83 billion versus USD 37.83 billion in October. It was down 16.37percent at USD 33.83 billion (Y-o-Y). Crude oil and gold imports are biggest contributors to the India's trade bill. Gold and silver imports fell sharply at USD 1.05 billion (Y-o-Y), down 80.5 percent. Oil imports stood at USD 12.9 billion against USD 15 billion seen in October. Non-oil imports declined to USD 20.87 billion versus USD 22.61 billion (M-o-M).