Trade deficit hits 3-month low; easing commodity prices reduce import bill

News Snapshot:

Driven by a rise in global demand for engineering and electronic products, India’s goods exports in December rose 1 per cent while the trade deficit narrowed to a three month low due to lower imports on the back of easing commodity prices, official data released by the commerce and industry ministry on Monday showed. This is only the third instance in the ongoing financial year when the monthly goods exports have risen compared to last year as weak demand from the western countries and property crisis in China slowed global demand. “India’s merchandise trade deficit printed at $19.8 billion in...