India's exports grew marginally to USD 27.15 billion in December while imports surged 7.56 percent, increasing the trade deficit to USD 15.44 billion, official data showed on Friday. Imports during the month were estimated at USD 42.59 billion, with inbound shipments of gold rising sharply by 81.82 percent to USD 4.48 billion.
"The trade deficit for December 2020 was estimated at USD 15.44 billion as against the deficit of USD 12.49 billion in December 2019, which is an increase of 23.66 percent," as per the government data. Exports growth was in the negative territory in October and November.
The data revealed that exports of petroleum products contracted 35.35 percent to USD 2.34 billion in December, while that of readymade garments shrank 15.05 percent to USD 1.19 billion.
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