India’s trade deficit widened to $10.14 billion in December from $9.22 billion recorded in the previous month due to slower growth in exports and increased imports of gold, government data showed Friday.
Exports increased by 3.49 percent to $26.34 billion in December 2013 as compared to $25.45 billion recorded in the corresponding month of the previous year.
Exports had increased by 5.86 percent in November.
Curbs on gold imports and slower demands in other sectors led to 15.25 percent drop in imports.
The value of imports in December 2013 was $36.48 billion, as compared to $43.05 billion recorded in the same month of the previous year, according to data released by the trade ministry here.
Cumulative value of exports for the first three quarters of the current financial year stands at $230.33 billion, which is 5.94 percent higher than the $217.41 billion worth of exports posted in the corresponding period of last fiscal.
Total value of imports during April-December, 2013-14 was $340.37 billion — 6.55 percent down from the $364.24 billion in the corresponding period of 2012-13.
For the first three quarters of 2013-14, total trade deficit was recorded at $110.04 billion — sharply lower than $146.82 billion recorded during the like period of the previous fiscal.