India's Trade Deficit Widened in December

By Maria Martinez

India's trade deficit in December widened compared with the same month the previous year, government data showed Friday.

The trade deficit for December stood at $15.44 billion compared with a $12.49 billion deficit in December 2019.

The widening of the trade deficit was driven by a larger increase in imports than in exports. Remaining almost flat, exports posted a 0.14% increase from a year earlier to $27.15 billion, after falling 8.74% in November due to the coronavirus pandemic. Imports rose 7.56% to $42.59 billion, following November's 13.32% drop.

India, Asia's third-largest economy, has been running a significant trade deficit for more than 15 years. The growth of exports in recent years has been offset by increased imports--mostly of energy and electronic goods.

Write to Maria Martinez at [e-mail]

(END) Dow Jones Newswires

01-15-21 0835ET