India's merchandise exports contracted for the 13th straight month in December, government data showed, as global demand remained sluggish. Exports declined 14.75% from a year earlier to $22.29 billion, according to data released by the Ministry of Commerce and Industry today. Imports too plunged 3.88 per cent to USD 33.9 billion in December over the same month previous year. Trade deficit during the month under review widened to USD 11.6 billion as against USD 9.17 billion in December 2014.The main export sectors including engineering, petroleum products and gems and jewellery have recorded negative growth in December, 2015. As per the data, gold imports in December more than doubled to USD 3.80 billion as compared to USD 1.36 billion in the year-ago period. Oil imports too declined 33.19 per cent to USD 6.65 billion in December.
News On AIR | January 18, 2016 11:42 AM
Exports dip 14.75% in December, gold imports rise to $3.8 bn