External Trade - Widens sharply ::Edelweiss, link

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--> November trade deficit widened surprisingly to ~USD17bn versus ~USD13.4bn in October, primarily due to the 27% YoY growth in imports. Within imports, gold imports climbed to 18-month high, while non-oil and non-gold imports picked up led by coal, iron & steel, and electronic goods. Exports recovered from October weakness (lesser number of production days), but the rebound was not up to expectations. Going ahead, we expect trade deficit to normalise back to the USD13-14bn range following further fall in crude oil prices and some normalisation in gold imports after the sharp uptick. However, in case gold imports remain high around current levels, we see upside risks to our FY15 CAD forecast of ~USD35bn.

LINK
https://www.edelweiss.in/research/External-Trade--Widens-sharply/27838.html