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Gold imports, trade deficit, gold imports miscalculations, gold imports data, Indian express news, current affairs

Trade deficit narrows to $22 billion in December as gold imports ease to $4.7 billion

January 16, 2025 9:30 am

Data showed that the exports contracted for the second month in a row by about 1 per cent year-on-year to $38.01 billion due to global uncertainties, while imports rose by about 5 per cent to $59.95 billion.

What went wrong with gold import figures? Why is revision before the Budget crucial?

January 13, 2025 3:20 pm

This revision was officially attributed to a problem in a data migration process that commenced in July last year

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Double counting error: Official gold import figures for Nov revised down by $5 billion

January 09, 2025 10:07 pm

This follows a likely counting error, which estimated November gold imports at 180 tonnes in volume—about three times the average for the first 10 months.

Double counting: $3-4 bn downward revision in Nov gold import figures likely

January 09, 2025 5:24 am

In the Budget 2024-25, the customs duty on gold was sharply cut to 6 per cent from 15 per cent

Trade deficit at 5-month low as textile exports surge, gold imports dip

October 17, 2024 5:19 am

Over the last two years, garment and textile exports have struggled due to a slowdown in demand from the West.

Gold imports up 6.4% to $13 billion in April-July this fiscal

August 19, 2022 12:41 pm

Increase in gold and oil imports during the first four months of this fiscal contributed to a record trade deficit of USD 30 billion, against USD 10.63 billion in April-July 2021.

Gold import duty hike: Demand in spot market may not be impacted in the long term, feel analysts

July 22, 2022 6:26 pm

The Centre’s attempt to reduce import bills by hiking the import duty on gold by a sharp 5 per cent, may not affect demand for the precious metal significantly according to market experts.

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Gold imports dip 6.77 per cent during Apr-Dec 2019

January 27, 2020 10:35 am

The decline in gold imports has helped in narrowing the country's trade deficit to USD 118 billion during the period, against USD 148.23 billion a year ago.

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India’s gold imports slide for a fifth month as economy slows

December 06, 2019 6:16 pm

Imports in the world’s second-biggest consumer have been falling as jewellers have been cutting purchases on poor demand. Slowing growth and a more than 20% rally in prices this year are expected to push India’s domestic consumption to the weakest since 2016.

Gold imports up 4 per cent to USD 17.63 billion in Apr-Sep 2018-19

October 19, 2018 1:22 pm

To mitigate the negative impact of gold imports on trade deficit and CAD, the government took certain measures to cut the inbound shipments of the yellow metal.