Indian trade deficit declines in January

Source: RTT News
© Scanpix/FP
The trade balance of India improved considerably during the last year, as exports jumped 3.8% in January on the annual basis, reaching $26.75 billion. Imports, in turn, plummeted 18.1% to $36.67 billion, while oil purchases declined 10.1% and imports of other products slipped 22%. Therefore, the country's trade deficit narrowed to $9.91 billion in January, down from $18.98 billion a year ago.
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