India trade deficit stands at $21.94 billion in December

Indias trade deficit widened to $21.94 billion in December from $18.76 billion a year ago as merchandise exports contracted for the second month in a row, data released Wednesday showed. Exports contracted by about one per cent year-on-year to $ 38.01 billion due to global uncertainties, while imports rose by about 5 per cent to $ 59.95 billion. Gold imports in December amounted to $4.7 billion. However, the merchandise trade deficit narrowed in December compared with November. The government had revised Novembers gold imports to $9.84 billion from $14.86 billion announced earlier. The correction had lowered the November trade deficit to $32.8 billion from a record $37.8 billion estimated earlier.

 

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