India: Exports and imports both decrease in December
January 15, 2020
Merchandise exports decreased 1.8% in December from the same month a year earlier, after dropping 0.3% in November, amounting to a total value of USD 27.4 billion. Merchandise imports decreased 8.8% in December, after dropping 12.7% in November, amounting to a total value of USD 38.6 billion. Fewer imports of transport equipment, precious stones and pearls, and gold all weighed on the overall import decrease.
The merchandise trade deficit amounted to USD 11.3 billion in December, narrowing from the USD 14.5 billion deficit in the same month a year earlier and the USD 12.1 billion shortfall in November. The 12-month trailing sum of the trade deficit shrank to USD 153.3 billion in December from USD 156.6 billion in November.
Author: Edward Gardner, Economist