In December 2020, oil imports declined by 10.37 per cent to $9.61 billion. During April-December this fiscal, the imports dipped by 44.46 per cent to $53.71 billion.
Imports during the nine months of the current fiscal declined by 29.08 per cent to $258.29 billion.
The country’s exports declined marginally by 0.8 per cent to $26.89 billion in December 2020, due to contraction in sectors like petroleum, leather and marine products, according to preliminary data released by the commerce ministry on Saturday.
The trade deficit in December widened to $15.71 billion, as imports grew by 7.6 per cent to $42.6 billion, the data showed.