New Delhi: India’s trade deficit narrowed to $13.08 billion in December, the lowest in 10 months, due to a fall in gold imports, the trade ministry said in a statement on Tuesday. In November, the trade deficit was $16.67 billion. In December, merchandise exports rose 0.34% from a year earlier to $27.93 billion, while imports fell 2.44% to $41.01 billion, data showed.

Gold imports declined by 24.33% to $2.56 billion in December last year against $3.39 billion a year ago. Oil imports rose by 3.16% to $10.67 billion during the month compared to the same period last year.

During the April-December period of the current fiscal year, exports grew by 10.18% to $245.44 billion. Imports rose by 12.61% to $386.65 billion.

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