India: Merchandise trade deficit increases in December
Latest reading: In December, the trade balance was USD -25.0 billion, following a USD -24.5 billion figure in the prior month. Over the last 12 months, the trade balance summed to USD -306.9 billion.
Exports were up 1.9% in year-on-year terms in December, following a 19.4% increase in the previous month. Imports increased 8.7% in year-on-year terms in December, coming on the back of a 2.0% drop in the prior month.
Outlook: Trade talks with the U.S. remain key to the outlook, after Washington hit India with an additional 25% levy for buying Russian oil, bringing total tariffs to 50%.