New Delhi, Jan 16 (KNN) On account of global trade tensions, India’s exports growth remained almost flat in December 2018, recording a marginal expansion of 0.34 per cent, according to trade data released by Commerce Ministry.

Exports in December 2018 were US $ 27.93 Billion, as compared to US $ 27.83 Billion in December 2017, exhibiting a positive growth of just 0.34per cent, data reveals.

Whereas imports in December 2018 were US $ 41.01 Billion, which was 2.44 per cent lower in Dollar terms over imports of US $ 42.03 Billion in December 2017.

Marginal expansion in exports and negative growth in imports have narrowed the trade deficit to a ten-month low of $13.08 billion in December 2018 as against $14.2 billion in the same month of the previous year.

The major commodity groups of export showing positive growth in December were petroleum products (13.18%), organic & inorganic chemicals (5.5%) and electronic goods (50.81%), commerce and industry ministry said in a statement on Tuesday. 

“India’s overall exports (Merchandise and Services combined) in April-December 2018-19 are estimated to be $396.73 billion, exhibiting a positive growth of 13.79% over the same period last year,” the ministry said. 

Taking merchandise and services together, overall trade deficit for April-December 2018-19 is estimated at US $ 82.72Billion as compared to US $ 69.63Billion in April-December 2017-18.