December trade deficit narrows to $17.7b, exports fall 1.9%
Jan 11 2013 , New Delhi
Exports totalled $24.88 billion in December, down 1.9 percent on year. Imports, however, were up 6.3 percent at $42.5 billion. For the first three quarters of the fiscal year ending in March, exports totalled $214.1 billion, down 5.5 percent from a year ago.
The weakness of the export sector, which makes up one-fifth of the Indian economy, has swollen a current account deficit that hit an all time high of 5.4 percent of gross domestic product in the July-September quarter and has added to pressure on the rupee.