Merchandise exports shrank 0.34% year-on-year in November to $26 billion —the fifth contraction in the past eight months — despite a relatively favourable base, as faltering domestic manufacturing on top of external headwinds continue to bite. The commerce ministry data on Friday showed imports, too, dropped for a sixth straight month through November — by 12.7% against a fall of 16.3% in October — mirroring a collapse in domestic demand. Still, goods trade deficit shot up to $12.1 billion in November against $11 billion a year ago, as the contraction in imports narrowed month-on-month.