Both exports and imports record growth in December; first time since Feb

Trade deficit at 25-month high as imports surge 8% after continuous declines; Data shows industrial activity picking up in December

Imports moved into positive territory for the first time since March, sending the trade deficit to a 25-month high of $15.44 billion in December against $9.87 billion in the previous month.

Imports grew 7.56 per cent to $42.59 billion in December, against $39.59 billion a year ago.

Exports also saw a marginal growth of 0.14 per cent in December — only the third month in 2020 to show expansion — fuelling optimism about an economic recovery.

Outbound shipments were $40 million higher at $27.15 billion over $27.11 billion a year ago on the back of drugs and pharmaceuticals, electronics, and