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Trade Deficit Narrows as Gold Imports Fall in Dec
The New Indian Express Sambalpur
|January 16, 2025
INDIA's merchandise exports contracted 1% year-on-year even as imports rose 4.9% in December 2024, government data released on Wednesday showed.
The trade deficit narrowed to $21.94 in December month-on-month compared to $32 billion in November as gold imports halved to $4.7 billion. In November 2024, gold imports had surged 186% year-on-year to $9.9 billion. In December 2023, the merchandise trade deficit was $18.76 billion.
Services exports during the month rose by 3.25% year-on-year, while imports grew 12%. Total trade deficit (merchandise plus services) widened to $6.78 billion in December 2024 compared to $2.76 billion in the year-ago period.
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