India's Trade Deficit Widened in December

India's trade deficit in December widened compared with the same month the previous year, government data showed Friday.

The trade deficit for December stood at $15.44 billion compared with a $12.49 billion deficit in December 2019.

The widening of the trade deficit was driven by a larger increase in imports than in exports. Remaining almost flat, exports posted a 0.14% increase from a year earlier to $27.15 billion, after falling 8.74% in November due to the coronavirus pandemic. Imports rose 7.56% to $42.59 billion, following November's 13.32% drop.

India, Asia's third-largest economy, has been running a significant trade deficit for more than 15 years. The growth of exports in recent years has been offset by increased imports--mostly of energy and electronic goods.

Write to Maria Martinez at

  (END) Dow Jones Newswires
  01-15-21 0835ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.