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India’s Exports Dip 1.8%, Imports Decline By 8.83% In Dec 2019

The country’s exports contracted for the fifth month in a row by 1.8 per cent in December 2019 to USD 27.36 billion, according to data released by the commerce ministry on Wednesday.

Imports too declined by 8.83 per cent to USD 38.61 billion, bringing down the trade deficit to USD 11.25 billion during the month under review.

The trade deficit during December 2018 was USD 14.49 billion.

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

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

Source: Outlook