India’s trade deficit narrowed to its lowest in January at $17.75 billion from $23.76 billion in the previous month, according to Reuters calculations based on export and import data released by the government on Wednesday.
January merchandise exports stood at $32.91 billion, compared with $34.48 billion in December, while imports fell to $50.66 billion from $58.24 billion, the data showed.
The trade deficit widened to $232.95 billion in April-January from $153.78 billion a year ago.
Among major exports during the period, petroleum products, electronic goods and chemicals remained higher than a year earlier, but exports of cotton, engineering goods, iron ore and gems and jewelery declined due to weaker global demand.
Within imports, petroleum and crude products saw the fastest growth with an increase of over 53%, followed by coal and electronic goods. However, gold imports were down by over 11%.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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