Exports sink: Trade deficit hits seven-month high in January

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Updated: February 15, 2020 8:35:19 AM

Trade deficit hits seven-month high in January

Exports sink, Trade deficit, gold imports, domestic manufacturingCore (non-oil and non-gold) imports dropped by 4.7%, reflecting demand compression.

Merchandise exports dropped 1.7% y-o-y in January to $26 billion, the sixth straight month of contraction, pushing up trade deficit to a seven-month high of $15.2 billion, as imports dropped at a slower pace of 0.8%.

Core (non-oil and non-gold) imports dropped by 4.7%, reflecting demand compression. External headwinds and subdued domestic manufacturing continue to hurt exports.

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