Exports decline 12.2% in December on global headwinds; trade deficit widens to $23.76 bn

During Apr-Dec of this fiscal, India's overall exports rose 9% to $332.76 bn while imports increased 24.96% to $551.7 bn

India's exports contracted 12.2 per cent to USD 34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to USD 23.76 billion during the same period, according to official data released on Monday

Imports in December 2022 also declined 3.5 per cent to USD 58.24 billion as against USD 60.33 billion in the year ago period. In December 2021, exports stood at USD 39.27 billion and the trade deficit was at USD 21.06 billion.

During April-December of this fiscal, the country's overall exports rose 9 per cent to USD 332.76 billion while imports increased 24.96 per cent to USD 551.7 billion.