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Trade deficit of India declined to ten month low in December 2014

Jan 16, 2015 16:57 IST

Trade deficit of India declined to ten month low of 9.43 billion US dollars in December 2014. The data was released by the Union Ministry of Commerce & Industry on 15 January 2015.

The trade deficit in December 2014 was narrowed by 44 percent from November 2014 due to fall down of global oil prices and fall of demand for gold.

Highlights of Trade deficit of India
• Imports of India declined by 4.8 percent to 34.8 billion US dollars in December 2014 as compare to 36.6 billion US dollars in December 2013.
• Exports of India fell by 3.8 percent to 25.4 billion US dollars and outbound shipments were valued at 26.4 billion US dollars in December 2014.
• The cost of oil imports was 9.94 billion US dollars in December 2014, down 28.6 percent as compare to 13.92 billion US dollars in December 2013.
• Gold imports at 1.34 billion US dollars in December 2014 were 7.4 percent higher than as compare to the December 2013. However, it is a sharp decline from November 2014 when inbound shipments stood at 5.6 billion US dollars.
• Exports of India from April to December 2014 at 241.15 billion US dollars, a growth of 4.02 percent as compare to 231.8 billion US dollars in April-December 2013.
• The imports of India from April to December 2014 at 351.2 billion US dollars, a growth of 3.63 percent as compare to 338.9 billion US dollars.
• The trade deficit from April to December 2014 at 110 billion US dollars compared to 107 billion US dollars in April – December 2013.
• The last low in trade deficit was 8.13 billion US dollars in February 2014.

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