January 11, 2013 / 9:02 AM / 6 years ago

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

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.

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

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below