India’s merchandise trade deficit in January stood at $22.99 billion, according to a Reuters calculation based on export and import data released by the government on Monday. Economists had expected the January trade deficit to be $22.35 billion, according to a Reuters poll.
Merchandise exports in January stood at $36.43 billion compared with $38.01 billion in December, while imports for the month were $59.42 billion. In December, imports were at $59.95 billion.
Services exports in January were estimated at $38.55 billion and imports at $18.22 billion against $32.66 billion and $17.50 billion, respectively, in December.
The article originally appeared on Financial Express.
