Exports contract by 11.19% to $23.88 bn in January

Zee Media Bureau

New Delhi: India's exports in January contracted by 11.19 percent to USD 23.88 billion while the trade deficit rose from a 10-month low and narrowed the gap to USD 8.32 billion.

The trade deficit stood at USD 9.45 billion in January of last year.

Meanwhile, govt data on Friday also showed that gold imports went up by 8.13 percent to USD 1.55 billion in January.

In December, 2014, exports fell by 3.8 percent to USD 25.4 billion while the trade deficit widened to a 10-month low of USD 9.43 billion mainly on account of falling imports due to slump in crude prices, though exports too have come down.

Gold imports in December had stood at USD 1.34 billion.