India's merchandise exports rose marginally in December by 0.34 per cent to $27.93 billion from the $27.83 billion reported for the corresponding month of 2017.

According to a data released by the Commerce Ministry, the trade deficit for December 2018 was estimated at $13.08 billion, as against the deficit of $14.20 billion in December 2017.

The cumulative value of exports for the April-December 2018 period was $245.44 billion, as against $222.77 billion during the period April-November of 2017 registering a growth of 10.18 per cent, the Ministry said.

Non-petroleum and non-gems and jewellery exports during the month in consideration at $21.11 billion increased just over 1 per cent, as compared to $20.88 billion in December 2017.

Petroleum products, electronic goods, and plastic and linoleum products showed a high export growth during the month under review.

Instead, imports in December at $41.01 billion fell by 2.44 per cent as compared to the imports of 42.03 billion in the same month of 2017.

"Oil imports in December 2018 were $10.67 billion, which was 3.16 per cent higher in dollar terms, compared to $10.35 billion in December 2017," the statement said.

Global Brent crude oil price has increased by 12.07 per cent in December 2018, vis-à-vis December 2017, the Ministry said.

"Non-oil imports in December 2018 were estimated at $30.33 billion, which was 4.27 per cent lower in dollar terms compared to $31.69 billion in December 2017," the statement said.

"Non-oil and non-gold imports were $27.76 billion in December 2018, recording a negative growth of 1.86 per cent, as compared to non-oil and non-gold imports in December 2017, the statement said.

Reacting to the export figures, Pushkar Mukewar, Co-Founder and Co-CEO of Drip Capital, a US-based trade finance firm said "The 13.8% growth in overall exports is good news, of course. Falling crude prices, thanks largely to increased global production, will benefit the country, although there are fears that this spike in output could lead to a global glut. Looking at non-petroleum products, the fall in coffee exports is not surprising, as it is in line with what coffee growers anticipated last year."