Exports up 0.34% in Dec 2018; trade deficit narrows

New Delhi: The country's exports grew marginally by 0.34 percent to USD 27.93 billion in December 2018 on account of negative growth in sectors such as engineering and gems & jewellery, according to a commerce ministry data.

Imports, however, dipped by 2.44 percent to USD 41 billion during the last month, narrowing the trade deficit to USD 13 billion.

The trade deficit stood at USD 14.2 billion in December 2017.

Gold imports declined by 24.33 percent to USD 2.56 billion in December last year as against USD 3.39 billion in the same month of 2017.

During April-December this fiscal, exports grew by 10.18 percent to USD 245.44 billion. Imports rose by 12.61 percent to USD 386.65 billion.

The trade deficit widened to USD 141.2 billion during the nine months of the current fiscal from USD 120.57 billion in April-December 2017-18.

Oil imports in December 2018 rose by 3.16 percent to USD 10.67 billion.