-Livemint.com
If crude oil prices surge on tensions in West Asia, our import bill could soar
India’s December trade figures deepen concerns about the health of our economy. Official figures show that merchandise exports dipped 1.8% from a year earlier to $27.36 billion, marking the fifth straight month of decline. A consolation is that imports fell by a larger 8.8%, helping narrow the trade deficit. But the relief could be temporary. If crude oil prices surge on tensions in West Asia, our import bill could soar.
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