India's trade deficit narrowed for the third straight month in March to $5.07 billion, as imports shrank at a faster pace than exports, data showed on Monday (18 April).
Although exports for the year ending March were the weakest since 2010-11, down 15.85 per cent from a year ago, the narrowing trade gap showed that India - the world's No 3 crude importer - has been a net beneficiary of the collapse in oil prices.
For the 2015-16 fiscal year that ended in March, the trade deficit stood at $118.5 billion, compared with $137.7 billion in the previous fiscal year.
(Reuters)
