Exports Decline For Fifth Month In A Row, Drop Nearly 2% In December

The country's exports contracted for the fifth month in a row by 1.8 per cent in December 2019 to $27.36 billion, according to data released by the commerce ministry on Wednesday.

Imports too declined by 8.83 per cent $38.61 billion, bringing down the trade deficit to $11.25 billion during the month under review.

The trade deficit during December 2018 was $14.49 billion. Oil imports contracted by 0.83 per cent to $10.69 billion, while gold imports dipped by about 4 per cent to $2.46 billion.

During April-December 2019-20, exports slipped 1.96 per cent to $239.29 billion, imports declined by 8.9 per cent to $357.39 billion, leaving a trade deficit of $118.10 billion.