New Delhi: Merchandise trade deficit of the country hit its lowest in a year in January. The merchandise trade deficit in last month was at $17.75 billion. It was at $23.76 billion in December, 2022. Trade deficit is the difference between imports and exports of the country.
The overall merchandise exports from the country in January was at $32.91 billion. It was at $34.48 billion in December. While imports fell to $50.66 billion in January from $58.24 billion in December .
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The trade deficit for April-January widened to $232.95 billion from $153.78 billion a year ago. Export of petroleum products, electronic goods and chemicals continued to be higher than a year ago. But the export of cotton, engineering goods, iron ore, and gems and jewellery edged lower. Within imports, petroleum and crude products saw the sharpest increase with a more than 53% jump, followed by coal and electronic goods. However, imports of gold were down over 11%.
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