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India's exports decline for fifth straight month in December, trade deficit narrows

17-Jan-2020
India's exports decline for fifth straight month in December, trade deficit narrows

India's merchandise exports shrank 1.8% in December, falling for the fifth straight month, while the trade deficit narrowed to $11.25 billion from a year ago, helped by lower oil imports, the Trade Ministry said in a statement said on Wednesday.

Merchandise exports fell to $27.36 billion in December compared with a year earlier, while imports were down 8.83% to $38.61 billion, the data showed.

India's trade deficit stood at $14.49 billion in December 2018, the statement said.

Imports declined by 8.83% $38.61 billion, bringing down the trade deficit to $11.25 billion during the month under review.

The trade deficit during December 2018 was $14.49 billion.

Oil imports contracted by 0.83 per cent to $10.69 billion, while gold imports dipped by about 4% to $2.46 billion.

During April-December 2019-20, exports slipped 1.96$% to $239.29 billion, imports declined by 8.9% to $357.39 billion, leaving a trade deficit of $118.10 billion.


Source- Livemint.com

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