At Trade Deficit Of $15.71 Billion, India Was A Net Importer In December

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Merchandise exports fell marginally by 0.8 per cent to $26.89 billion in December 2020, contracting for the third straight month, amid a registered decline in sectors such as petroleum, leather, and marine products. According to merchandise trade preliminary data released by the Ministry of Commerce and Industry on Saturday, January 2, the trade deficit reported last month, widened to $15.71 billion, as imports grew by 7.6 per cent to $42.6 billion. The country’s merchandise imports in December were $42.60 billion, as compared to $39.59 billion in the corresponding month last year, registering an increase of 7.6 per cent. According to the government, India was a net importer in December 2020, with a $15.71 billion trade deficit, as compared to the trade deficit of $12.49 billion in the same month last year, recording an increase of 25.78 per cent.

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