NEW DELHI, Dec 15 Reuters India39;s merchandise trade deficit narrowed sharply to 20.58 billion in November from the previous month39;s record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday.

The trade deficit in November was lower than the 23.60 billion expectation of economists polled by Reuters.

India39;s merchandise exports in November stood at 33.9 billion, while imports were 54.48 billion, government data showed.

In the previous month, merchandise exports were 33.57 billion, while imports stood at 65.03 billion.

Gold imports nearly halved on month to 3.45 billion in November, an analysis of government data by Reuters showed. Gold imports for October were at 7.2 billion.

Imports of petroleum products were 22 lower in November than the previous month at nearly 13.71 billion. Electronic goods imports registered a near 17 decline in the latest print at 6.49 billion, analysis showed.

Services exports in November were 28.68 billion, while imports were 13.4 billion. In October, services exports were 28.70 billion and imports were 14.32 billion.

The sharp widening in India39;s merchandise trade deficit in October to a record level, fuelled by a broadbased rise in imports due to festive demand, was expected to be an outlier.

India39;s monthslong festival demand peaks during Diwali, the festival of lights, which was celebrated on Nov.12.

Merchandise exports for the period AprilNovember totalled 278.80 billion,…