December trade deficit narrows to $17.7 billion, exports fall 1.9 percent

NEW DELHI Fri Jan 11, 2013 2:28pm IST

Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in Gujarat October 1, 2012. REUTERS/Amit Dave/Files

Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in Gujarat October 1, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

NEW DELHI (Reuters) - India's trade deficit narrowed to $17.7 billion in December from $19.3 billion in November, even after exports fell for the eighth straight month, a trade ministry official said on Friday.

Exports totalled $24.88 billion in December, down 1.9 percent on year. Imports, however, were up 6.3 percent at $42.5 billion. For the first three quarters of the fiscal year ending in March, exports totalled $214.1 billion, down 5.5 percent from a year ago.

The weakness of the export sector, which makes up one-fifth of the Indian economy, has swollen a current account deficit that hit an all time high of 5.4 percent of gross domestic product in the July-September quarter and has added to pressure on the rupee.

(Reporting by Matthias Williams and Arup Roychoudhury; Writing by Rajesh Kumar Singh)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

China Economy

China Economy

China's growth slowest since global crisis, annual target at risk  Full Article 

Coal Reforms

Coal Reforms

Factbox - India pushes ahead with coal reforms  Full Article 

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage