Exports slip 0.8% in Dec; trade deficit widens to $15.71 bn


The country's exports declined marginally by 0.8 per cent to $26.89 billion in December 2020, due to contraction in sectors like petroleum, leather and marine products, according to preliminary data released by the commerce ministry on Saturday.

IMAGE: In December 2020, oil imports declined by 10.37 per cent to $9.61 billion. Photograph: Amit Dave/Reuters

The trade deficit in December widened to $15.71 billion, as imports grew by 7.6 per cent to $42.6 billion, the data showed.

Export in December 2019 was $27.11 billion, while imports stood at $39.5 billion.

In November 2020, the exports were down by 8.74 per cent.

In April-December 2020-21, the country's merchandise exports contracted by 15.8 per cent to $200.55 billion, as compared to $238.27 billion in the same period of 2019-20.

Imports during the nine months of the current fiscal declined by 29.08 per cent to $258.29 billion, as against $364.18 billion in April-December 2019-20. 

"India is thus a net importer in December 2020, with a trade deficit of $15.71 billion, as compared to a trade deficit of $12.49 billion, widened by 25.78 per cent," the ministry said in a statement.

In December 2020, oil imports declined by 10.37 per cent to $9.61 billion.

During April-December this fiscal, the imports dipped by 44.46 per cent to $53.71 billion.

 

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