External Trade - Trade Deficit Narrows Owing to Lower Imports :: Edelweiss, report

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December trade deficit narrowed significantly to ~USD10bn from ~USD17bn in November. The shrinking of trade deficit was mainly on the imports front. Within imports, gold imports returned to normalcy at around USD1.3bn versus USD4.5bn average of past 3 months. Oil imports also eased on lower prices. Non-oil and non-gold imports too fell sequentially due to seasonality. The main disappointment was on non-oil exports front, which continued to slow and could be a drag on manufacturing sector.

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https://www.edelweiss.in/research/External-Trade--Trade-Deficit-Narrows-Owing-to-Lower-Imports/28037.html