The country’s exports grew marginally to $ 27.15 billion in December 2020, while imports surged 7.56 per cent, increasing the trade deficit to $ 15.44 billion, government data showed on Friday, January 15. With this, exports entered the positive zone after a gap of two months. Imports during the month were estimated at $ 42.59 billion, driven by inbound shipments of gold, which rose sharply by 81.82 per cent to $ 4.48 billion. The trade deficit for December 2020 was estimated at $15.44 billion as against the deficit of $ 12.49 billion in December 2019, which is an increase of 23.66 per cent. The exports growth was in the negative territory in October and November this year.
The data revealed that exports of petroleum products contracted 35.35 per cent to $ 2.34 billion in December 2020, while that of readymade garments shrank 15.05 per cent to $ 1.19 billion. However, exports of electronic goods grew by 16.51 per cent to $ 1.25 billion and of chemicals by 10.79 per cent to nearly $ 2 billion. If the merchandise and services are combined, the country’s overall exports in the April-December period stood at $ 348.49 billion, a decline of 12.65 per cent over the corresponding period in 2019.