Exports in the month of November were recorded at $22.32 billion, which is 3.87 per cent more than the $21.49 billion worth of exports during the corresponding month of the previous year.

But imports jumped by 24.55 per cent to $35.92 billion, resulting in the monthly trade deficit of $13.6 billion, according to data released by the ministry of commerce and industry. 

Also read: Exports likely to hit $280 bn this fiscal

The cumulative value of exports in April-November 2011 was $192.7 billion, 33.21 per cent higher than $144.66 billion exports registered during the corresponding period of last year.

In the April-November period, imports grew by 30.24 per cent to $309.53 billion, resulting in trade deficit of $116.83 billion, compared with $93.0 billion a year earlier.

Petroleum and oil products and engineering goods led the exports growth.

During April-November period, exports of petroleum and oil products surged by 62.3 per cent to $39.5 billion and exports of engineering goods jumped by 22.3 per cent to $40.7 billion.

Imports of petroleum, oil and lubricants rose by 42.7 per cent at $94.1 billion during April-November period.

The government is targetting around 20 per cent increase of export growth for the current fiscal ending March 31, 2012.