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The commerce ministry in its latest data has said that India’s merchandise exports declined by 2.83 per cent to $33.90 billion in November 2023 as compared to $34.89 billion a year ago. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022. However, the country's trade deficit exhibited a positive trend, narrowing to $20.58 billion in November. 

According to the data, merchandise exports for the period April-November 2023 were $278.80 billion as against $298.21 billion during April-November 2022. Merchandise imports for the period April-November 2023 were $445.15 billion as against $487.42 billion during April-November 2022. The merchandise trade deficit for April-November 2023 was estimated at $166.35 billion as against $189.21 billion during April-November 2022.

It further stated that non-petroleum and non-gems & jewellery exports in November 2023 were $23.61 billion as compared to $24.30 billion in November 2022. Non- petroleum and non-gems & jewellery exports during April-November 2023 was $202.05 billion, as compared to $206.54 billion in April-November 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in November 2023 were $34.62 billion as compared to $34.95 billion in November 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $281.06 billion in April-November 2023 as compared to $294.96 billion in April-November 2022.