The country’s exports in December 2023 grew by 1% to reach $38.45 billion, according to official data. This marginal growth was accompanied by a narrowing of the trade deficit to a three-month low of $19.8 billion. The dip in imports, especially of crude oil shipments, contributed to this improvement. Crude oil imports declined by 22.77% during the month, while gold imports witnessed a significant jump of 156%. However, overall exports during April-December 2023 saw a dip of 5.7% to $317.12 billion, and imports contracted by 7.93% to $505.15 billion, resulting in a trade deficit of $188.02 billion.