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. 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.

(Live Mint)