NEW DELHI (Reuters) -India’s merchandise trade deficit in December stood at $21.94 billion, according to a Reuters calculation based on export and import data released by the government on Wednesday.
Economists had expected the country’s December trade deficit to be $27.33 billion, according to a Reuters poll.
Merchandise exports were at $38.01 billion in December, while imports stood at $59.95 billion.
After an unprecedented miscalculation, India’s trade ministry last week scrambled to correct monthly import figures for precious metals including gold from April to November.
The trade ministry has not yet released the revised figures for November, which had over-counted gold imports by $5 billion.
As part of the correction, India sharply lowered its April-November 2024 gold import estimate by $11.7 billion.
According to a Reuters calculation, the April-November trade deficit was revised down by $13.59 billion to $188.83 billion.
(Reporting by Shivangi Acharya; Editing by Mrigank Dhaniwala)
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