Economy Exports contract for 5th straight month; trade deficit narrows Updated : January 16, 2020 06:40 AM IST Imports too declined by 8.83 percent $38.61 billion, bringing down the trade deficit to $ 11.25 billion during the month under review. Oil imports contracted by 0.83 percent to $10.69 billion, while gold imports dipped by about 4 percent to $2.46 billion. During April-December 2019-20, exports slipped 1.96 percent to $239.29 billion, imports declined by 8.9 percent to $357.39 billion, leaving a trade deficit of $118.10 billion. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.