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Nomura says trade deficit 'worryingly high'

Source : REUTERS
Last Updated: Tue, Dec 11, 2012 11:15 hrs
An employee arranges Indian currency notes at a cash counter inside a bank in Agartala

Nomura says India's external sector remains in a "precarious state" after data earlier in the day showed a trade deficit of $19.3 billion in November, underpinning the vulnerability of the rupee.

The trade deficit is narrower than an all-time high of $21 billion in October, but remains "worryingly high", according to Nomura.

A high trade deficit despite a sharp domestic slowdown reflects weak global demand, export bans, as well as rising commodity import prices, Nomura says.

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