India’s trade deficit widens to $23.76 bn; exports dip by 12.2% in Dec


India’s merchandise trade deficit in December widened to $23.89 billion as against $21.10 billion year-on-year (YoY). However, the number was largely flat as compared to $23.89 billion in the previous month, according to the data released by the commerce ministry on Monday.

The country’s merchandise exports in December last year dipped by 12.2% to $34.48 billion as compared to $39.27 billion in the same month last year. 

Imports in December 2022 also declined to $58.24 billion as against $60.33 billion in the same month last year.

During April-December this fiscal, India’s overall exports surged by 9% to $332.76 billion. Imports during the period increased by 24.96% to $551.7 billion.

Despite global headwinds, India’s exports have held its head high, Commerce Secretary Sunil Barthwal has said. 

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