India’s trade deficit for November shot up to $16.8 bn, the highest single month deficit since May 2013. (When the dollar was at 55, and in November it was 61+)
What happened here? Exports grew 7% from last year but imports grew at a much faster pace at nearly 27%!
And while oil imports fell (due to the collapse in crude oil prices) we saw non-oil exports hit the roof!
(This is the highest non-oil import number, ever)
Mostly, the non-oil number is Gold – […]