India’s merchandise exports reduced by 1 percent to $38.01 billion in December.
The imports rose by 4.9 per cent to $59.95 billion, which led to a trade deficit of $21.94 billion in December.
According to United Nations Trade and Development (UNCTAD), shifts in United States (US) trade policy toward more protectionist, inward-looking industrial policies in many countries, trade wars, and geopolitical tensions will negatively influence international trade in 2025.
Moderating global inflation, stable economic growth forecasts and improving business activity will create positive momentum in global trade for early 2025.
Petroleum imports rose 2.2% to $15.3 billion in December 2024.
Between April and December 2024, exports of petro products were 20.84%.
Global trade is expected to grow by 3.3 percent in 2024.
The World Trade Organization (WTO) has revised its projection of world merchandise trade growth to 3 per cent in 2025.
