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of <h1>India's December 2024 Trade Deficit Narrows to $21.94B Despite Export Contraction; Imports Rise 5% Amid Global Uncertainties.</h1> India's trade deficit narrowed to USD 21.94 billion in December 2024, despite a 1% contraction in exports to USD 38.01 billion, attributed to global uncertainties. Imports rose by 5% to USD 59.95 billion. Key sectors like petroleum, gems, and chemicals saw negative growth, while textiles, electronics, and engineering showed positive trends. Cumulatively, April-December exports grew 1.6% to USD 321.71 billion, with imports increasing by 5.15% to USD 532.48 billion, widening the trade deficit to USD 210.77 billion. The government is addressing data consistency and export challenges, with geopolitical tensions impacting trade dynamics.
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