Trade deficit grows

Why is it in news?
  • India's trade deficit widened to $15.71 billion due to the rise in imports.
  • The preliminary data is released by the Commerce Ministry.
Details:
  • India’s exports slipped marginally by 0.8% in December 2020, contracting for the third straight month.
  • Exports in December 2020 stood at $26.89 billion, as compared to $27.11 in the same month of 2019.
  • The rate of contraction in the country’s outbound shipments has improved, mainly due to the increase in shipments of gems and jewellery, engineering and chemicals.
 
 
 
 
 
Posted by Jawwad Kazi on 3rd Jan 2021
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