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Trade deficit narrows in December 2019, exports dip for fifth month in a row


Date: 16-01-2020
Subject: Trade deficit narrows in December 2019, exports dip for fifth month in a row
The country's exports contracted for the fifth month in a row by 1.8 per cent in December 2019 to $27.36 billion, according to data released by the commerce ministry on January 15.

Imports too declined by 8.83 per cent $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 per cent to $2.46 billion.

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

Source: moneycontrol.com

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