NEW DELHI: India's trade deficit widened in December as gold imports nearly trebled, due to a rush from traders to take advantage of lower prices and a fall in exports for the 13th straight month.
Latest data released by the commerce department on Monday estimated that gold imports hit a four-month high of $3.8 billion last month, which was 2.7 times or $2.4 billion higher than the value of shipments in December 2014.
Trade deficit rose to $11.7 billion in December 2015, compared to $9.1 billion a year ago - a rise of $2.6 billion - suggesting surge in yellow metal imports contributed to the higher gap. During the first nine months of the year, however, gold imports rose by under 2% to $26.6 billion.
Source :timesofindia.indiatimes.com
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