The deficit for Asia’s third-largest economy widened to US$15.7 billion from US$12.5 billion in December 2019 after imports climbed about 7% and exports fell less than 1%, the government said in a statement, citing preliminary data.

Gold imports surged by about US$2 billion, an 82% jump from the previous year, while petroleum products saw the biggest decrease for any commodity group in trade into and out of the country, the government said.

Shipments overseas of drugs and pharmaceutical products increased in value the most among India’s exports, rising 17% from a year earlier.