NEW DELHI: India’s exports shrank for the third straight month in December but the pace of contraction slowed to 0.8% from 8.74% decline in November even as the country’s trade deficit widened.
Outbound shipments in December were $26.89 billion and in sectors like petroleum, leather and marine products witnessed contraction, preliminary data released by the commerce and industry ministry showed Saturday.
The trade deficit in December widened to $15.71 billion, as imports grew by 7.6% to $42.6 billion due to a sharp increase in gold imports. Gold imports rose 81.8% in December 2020 to $2.01 billion.
Other items that witnessed an increase in imports include electronic goods, …
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