Trade Data Highlights: Exports contract 1.96% till December; low imports ease trade deficit

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Updated:Jan 15, 2020 6:52:29 pm

India’s merchandise exports have contracted by around 2 per cent on-year till November, which rose by 10.9 per cent in the corresponding period of the previous year.

India played an active role in establishing the WTO and formulating global trade rules.

Trade Data Highlights: Amid a low industrial production, India’s exports during April-December contracted by 1.96 per cent, while imports shrank by 8.9 per cent. Also, a higher contraction in imports, compared to exports, has brought down the trade deficit to USD 11.2 B in the month of December. Meanwhile, benchmark stock market indices Sensex and Nifty traded in the red zone on Wednesday, amid reports that the US would likely maintain tariffs on Chinese items ahead of the signing of an initial trade deal. At the closing bell, S&P Sensex was trading 79.90 points or 0.19 per cent lower at 41,872.73 points, while the broader Nifty 50 index was trading 19 points, or 0.15 per cent, lower at 12,343 points. Yes Bank gained 3.50 per cent and finished the day as the biggest gainer on Nifty 50 index. Hero Moto Corp topped the Sensex pack with 2.58 per cent growth while Indusind Bank continued on its prolonged slump at the bottom. Union government is set to release which will show how India fared on the trade front in the first nine months of FY20. Exports have seen a prolonged slump in the current fiscal year. India’s merchandise exports have contracted by around 2 per cent on-year till November, which rose by 10.9 per cent in the corresponding period of the previous year. Imports suffered a contraction of 5.3 per cent in the same duration, driven by subdued factory demand.

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