Exports flat in December, trade deficit at 10-month low

New Delhi, January 15

The country’s exports growth remained almost flat at $27.93 billion in December 2018, mainly on account of global trade tensions.

According to trade data released by the Commerce Ministry, exports grew at the slowest pace in three months at 0.34% in December, while imports entered negative zone, registering a decline of 2.44% to $41 billion.

Declining imports have narrowed the trade deficit to 10-month low of $13.08 billion in December 2018 as against $14.2 billion in the same month previous year.

Last time, imports had plunged into negative territory in September 2016. It was dipped by 2.54% then.

The import of gold too contracted by 24.33% to $2.56 billion in December 2018.

Several key export sectors recorded negative growth. It includes engineering goods, gems and jewellery, leather, pharmaceuticals, marine products, iron ore, tea and coffee. — PTI