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Gold import revision trims Nov's record trade deficit by $5 billion
Mint Mumbai
|January 09, 2025
India's record trade deficit for November has been revised downward to $32.8 billion from $37.8 billion, after the government made a sharp correction in gold import data.
The Directorate General of Commercial Intelligence and Statistics (DGCIS), an arm of the commerce ministry, said on Wednesday that gold imports for the month were adjusted to $9.8 billion, a substantial reduction from the earlier estimate of $14.8 billion.
The $5-billion revision was attributed by PTI to a calculation error caused by alleged double counting of gold shipments in warehouses.
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