100-Word Take | November exports were at the same level as four years ago

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At first glance, India’s merchandise exports did miserably in November 2018, growing just 0.8 percent from a year ago. What’s more, it’s a huge fall from the October growth rate of 17.9 percent.

If you look at the actual figures, however, exports were $26.5 billion in November 2018, a tad below the $26.98 billion notched up in October. The big difference in year-on-year growth rates is an optical illusion, the result of the base effect.

That said, merchandise exports amounted to $26.5 billion in November 2014, four years ago, the same level as now. That’s how dismal our export performance has been.