Exports down 14.75% in December, gold imports up at $3.8 billion

Exports contracted for 13th month in a row in December 2015 as outward shipments shrank 14.75% to $22.2 billion amid a global demand slowdown.

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

During April-December period of the current fiscal, exports dipped 18% to $196.6 billion as compared to $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% to $295.8 billion, leaving a trade deficit of $99.2 billion.

As per the data, gold imports in December more than doubled to $3.80 billion as compared to $1.36 billion in the year-ago period.

Oil imports too declined 33.19% to $6.65 billion in December.