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Dec 11, 2012
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India's November trade deficit 7.9% lower than the previous month
India's trade deficit for November 2012 at $19.3 billion was 7.9 per cent lower than the previous month. It declined primarily because of both lower oil and non-oil import bill. Exports continue to suffer due to weak global demand. Exports for November valued at $22.3 billion were 4.17 per cent lower than exports recorded in November 2011. Exports are expected to remain weak due to tepid global demand and import demand is likely to weaken in line with decelerating domestic growth. As a consequence trade deficit in FY13 is expected to be lower than last fiscal, according to the latest Crisil Research report .
Source -
http://economictimes.indiatimes.com
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