India's exports contracted 12.2 per cent to USD 34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to USD 23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to USD 58.24 billion as against USD 60.33 billion in the year-ago period. In December 2021, exports stood at USD 39.27 billion and the trade deficit was at USD 21.06 billion.
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