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Trade Deficit Narrows To 10-Month Low As Gold Imports Fall

15 January, 2019 1:03 PM
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Trade Deficit Narrows To 10-Month Low As Gold Imports Fall

Trade deficit narrowed to $13.08 billion in December, the lowest in 10 months, due to a fall in gold imports, the trade ministry said in a statement on Tuesday. In November, the trade deficit was $16.67 billion.

In December, merchandise exports rose 0.34 per cent from a year earlier to $27.93 billion, while imports fell 2.44 per cent to $41.01 billion, data showed.

Gold imports declined by 24.33 per cent to $2.56 billion in December last year as against $3.39 billion in the same month of 2017, news agency Press Trust of India reported.

Source: ndtv.com

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