India Trade December 2019


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.

Our panelists forecast that exports will expand 2.5% in FY 2019 and imports will rise 0.9%, bringing the merchandise trade deficit to USD 189.0 billion. In FY 2020, we expect exports and imports will expand 5.1% and 4.6% respectively, which would result in a merchandise trade deficit of USD 182.0 billion.

Author:, Economist

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India Trade Chart

India Trade12m December 2019

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-sum of exports and imports in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.

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