India's trade deficit widens to $24 bn in Dec, exports fell 12%

India's trade deficit in December 2022 widened to $23.89 billion as against $21.10 billion year-on-year (YoY).

Merchandise export also fell in December 2022 by 12 per cent to $34.48 billion as against $39.27 billion in the corresponding period of last year.

Imports in December 2022 also witnessed a fall to $58.24 billion as against $60.33 billion of the corresponding period of last year.

During April-December period of the current fiscal, India's overall exports rose 9 per cent to $332.76 billion.

Also read | Reduction in oil import bill narrows down India's trade deficit in Nov

Imports during the same period went up by 25 per cent to $551.7 billion.