India’s trade deficit climbed 22% on a year earlier in November to $8.9 billion, on an inflation adjusted basis. This was the result of an 11% increase in exports. In turn that was likely driven by higher gold imports as consumers seek to offset ‘demonetization’. Export growth continued for a third month, but was modest at 2%. Panjiva data shows shipments to the U.S. – India’s largest export market – of iron and steel products jumped 38% and tires by 45%. These are products where the U.S. has brought trade cases against China before, and may form part of the new U.S. administration’s tra...
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