(Corrects import milestone in first paragraph)
NEW DELHI Dec 11 India's trade deficit narrowed
in November as exports rose, while imports hit the lowest level
in more than two-and-a-half years after gold shipments from
overseas fell sharply, according to the trade ministry on
Last month's deficit stood at $9.22 billion, the
trade ministry said, compared with $10.56 billion in October - a
traditional gold buying season. The deficit had previously
narrowed to a two-and-a-half-year low in September.
Merchandise exports rose by 5.86 percent
year-on-year in November to $24.6 billion.
Imports fell by 16.37 percent year-on-year to
$33.83 billion. Gold and silver imports slumped 80.49 percent to
$1.05 billion in November compared to a year earlier.
Gold purchases have been hit this year after India took
steps to curb imports of the yellow metal, including imposing a
record 10 percent import duty and requiring that 20 percent of
imports be re-exported.
(Reporting By Shyamantha Asokan; Editing by Rafael Nam)