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

Manas Chakravarty Moneycontrol News

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.