New Delhi: India's exports dropped by 1.92 percent to USD 24.87 billion in December, registering a decline for the eighth month in a row due to weak demands in Europe and North American markets, government data showed on Friday.

In the first three quarters of the current financial year, total value of exports stood at USD 214.09 billion, 5.5 percent down from USD 226.55 billion recorded during the same period of the previous year.

Imports increased by 6.26 percent to USD 42.54 billion in December, leaving a monthly trade deficit of USD 17.67 billion, according to data released by the ministry of commerce and industry here.  Total trade deficit for April-December period has widened to USD 147.17 billion.

During the corresponding period of 2011-12, trade deficit was USD 137.31 billion. Widening trade deficit has resulted in the record jump in the country's current account deficit. India's current account deficit rose to the all-time high of 5.4 percent of the GDP in July-September quarter, according to the Reserve Bank of India data.


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