By Xavier Fontdegloria

India’s commerce deficit in items widened on 12 months in December as a decline in exports outweighed a smaller fall in imports.
The commerce deficit–the distinction between exports and imports–was $23.76 billion in December in contrast with a $21.06 billion deficit the identical month a 12 months earlier, authorities information confirmed Monday.

India’s exports declined by 12.2% on 12 months to $34.48 billion, in an indication of worldwide waning demand as the worldwide financial system slows amid quickly rising rates of interest. Imports additionally fell, albeit at a lesser tempo of three.5%, to $58.24 billion.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com