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Exports declined by one percent in December, trade deficit reduced to $22 billion
Trade Deficit, Import-Export Data: Due to global uncertainties, India's exports in December 2024 declined by about one percent year-on-year for the second consecutive month to $38.01 billion, during which the trade deficit reduced to $21.94 billion. Let us know what else came out in the data released by the government.
Exports from India declined for the second consecutive month in December 2024 by about one percent year-on-year to $38.01 billion due to global uncertainties, while the trade deficit shrank to $21.94 billion.
According to data from the Ministry of Commerce, imports in December grew by about 5 percent year-on-year to US$59.95 billion. Overall, exports grew 1.6 percent to USD 321.71 billion during April-December in the current fiscal, while imports rose 5.15 percent to USD 532.48 billion.
The trade deficit, which is the difference between imports and exports, widened to USD 210.77 billion during April-December from USD 189.74 billion in the same period last fiscal. Briefing the media about the latest data, Commerce Secretary Sunil Barthwal said India's exports in both goods and services are doing better than other countries.
