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Falling oil imports shrink India's trade deficit to 11-month low

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India's trade deficit narrowed to a 11-month low of US$8.32 billion (S$11.3 billion) in January as oil imports declined by 17 per cent from a month earlier, government data showed on Friday.

[NEW DELHI] India's trade deficit narrowed to a 11-month low of US$8.32 billion (S$11.3 billion) in January as oil imports declined by 17 per cent from a month earlier, government data showed on Friday.

Imports fell an annual 11.39 per cent last month year-on-year to US$32.21 billion. Merchandise exports also declined 11.19 per cent year-on-year to US$23.88 billion, the data showed.

REUTERS