Exports jump 12.3% to $27 bn in December; imports rise 21.1% to $41.9 bn

December trade deficit widens to $14.88 bn; gold imports surge 71.52% to $3.39 bn

Exports rose 12.36% in December to $27.03 billion year-on-year on account of strong performance by sectors like engineering goods and petroleum products.

Imports surged significantly to $41.91 billion, up 21.12%, on increased inbound shipments of crude oil and gold.

As per the data released by the commerce ministry, the trade deficit or difference between imports and exports was $14.88 billion, up about 41% year-on-year.

"Exports have been on a positive trajectory since August 2016 to December 2017 with a dip of 1.1% in the month of October 2017," the ministry said in a statement.

Exports of engineering goods as well as petroleum products showed