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India's trade deficit narrows for fourth straight month in April

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India's trade deficit narrowed for the fourth straight month in April to US$4.84 billion, as plunging imports offset a fall in exports, data showed on Friday.

[NEW DELHI] India's trade deficit narrowed for the fourth straight month in April to US$4.84 billion, as plunging imports offset a fall in exports, data showed on Friday.

Imports shrank an annual 23.10 per cent to US$25.41 billion last month. Exports, meanwhile, dropped 6.74 per cent year-on-year to US$20.57 billion.

Imports of oil as well as gold recorded steep falls during the month.

REUTERS