Exports contract for 13th month in a row in Dec '15; gold imports rise to $3.8 bn

New Delhi: Exports contracted for 13th month in a row in December 2015 as outward shipments shrank 14.75 percent to USD 22.2 billion amid a global demand slowdown.

Imports too plunged 3.88 percent to USD 33.9 billion in December over the same month previous year. Trade deficit during the month under review widened to USD 11.6 billion as against USD 9.17 billion in December 2014.

During April-December period of the current fiscal, exports dipped 18 percent to USD 196.6 billion as compared to USD 239.9 billion in the same period of the previous fiscal, according to a data released by the Commerce Ministry. The main export sectors including engineering, petroleum products and gems and jewellery have recorded negative growth in December, 2015.

Imports during the nine months period contracted 15.87 per cent to USD 295.8 billion, leaving a trade deficit of USD 99.2 billion. As per the data, gold imports in December more than doubled to USD 3.80 billion as compared to USD 1.36 billion in the year-ago period.

Oil imports too declined 33.19 percent to USD 6.65 billion in December.