India’s trade deficit narrows to $10.37 billion in Dec – Big boost to economy

India`s trade deficit narrowed to $10.37 billion (nearly Rs 68,989.02 crore) in December from provisional $13 billion (nearly Rs 86,485.8 crore) a month ago, government data showed on Friday.

Merchandise exports grew 5.72% year-on-year to $23.88 billion (nearly Rs 1,58,867.7 crore) last month, while imports rose 0.46% year-on-year to $34.25 billion (nearly Rs 2,27,856.7 crore), the data showed.

“Taking merchandise and services together, overall trade deficit for April-December 2016-17 is estimated at $33.74 billion (nearly Rs 2,24,463.785 crore) which is 36.78% lower in dollar terms than the level of $53.37 billion (nearly Rs 3,55,057.3 crore) during April-December 2015-16,” cited the official statement.

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