Exports slip 0.8%, commerce deficit widens

New Delhi, January 2

Contracting for the third straight month, India’s exports slipped marginally by 0.8 per cent in December 2020 even as the trade deficit widened to USD 15.71 billion due to the rise in imports.

Exports in December 2020 stood at USD 26.89 billion as compared to USD 27.11 in the same month of 2019, according to preliminary data released by the Commerce Ministry. The rate of contraction in the country’s outbound shipments has improved against a decline of 8.74 per cent in November, mainly due to the increase in shipments of certain sectors, such as gems and jewellery, engineering and chemicals.

After a gap of nine months, imports in December had recorded a positive growth of 7.6 per cent at USD 42.6 billion. In February 2020, it had registered a rise of 2.48 per cent. — PTI

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