India’s exports contract 1% to $38.01 billion in December, trade deficit at $21.94 billion

India’s merchandise exports dipped by about 1 per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday.

Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.

The trade deficit, or the gap between imports and exports, stood at $21.94 billion during the month under review.

During April-December this financial year, exports increased by 1.6 per cent to $321.71 billion and imports by 5.15 per cent to $532.48 billion.