<p>After recording decline, gold imports more than doubled to USD 3.80 billion in December, driven by dip in global prices.<br /><br /></p>.<p>In December 2014, gold imports stood at USD 1.36 billion, according to Commerce Ministry data.<br /><br />The figure for December 2015 is the highest in the last three months. In August last year, it was USD 4.95 billion.<br /><br />The prices have been declining at global as well as domestic markets and higher import impacts the country's current account deficit (CAD).<br /><br />The jump in imports has widened the trade deficit to a four month high of USD 11.66 billion in the month under review.<br /><br />India is the largest importer of gold in the world, the demand of which mostly comes from the jewellery industry.<br /><br />During April-December this fiscal, the imports increased to USD 26.45 billion as against USD 25.85 billion in the same period last year.<br /><br />In 2014-15, gold was the third-largest commodity imported to India after crude oil and electronic items. In the respective fiscal, the country's imports stood at USD 34.32 billion.<br />In terms of volume, India -- the world's second-biggest gold consumer -- had imported around 900 tonnes in 2014.<br /><br />Gold prices in the international market have fallen to a five-year low.<br /><br />India imported 850 tonnes of gold during January-September period of 2015 as against 650 tonnes in the year-ago period.<br /></p>
<p>After recording decline, gold imports more than doubled to USD 3.80 billion in December, driven by dip in global prices.<br /><br /></p>.<p>In December 2014, gold imports stood at USD 1.36 billion, according to Commerce Ministry data.<br /><br />The figure for December 2015 is the highest in the last three months. In August last year, it was USD 4.95 billion.<br /><br />The prices have been declining at global as well as domestic markets and higher import impacts the country's current account deficit (CAD).<br /><br />The jump in imports has widened the trade deficit to a four month high of USD 11.66 billion in the month under review.<br /><br />India is the largest importer of gold in the world, the demand of which mostly comes from the jewellery industry.<br /><br />During April-December this fiscal, the imports increased to USD 26.45 billion as against USD 25.85 billion in the same period last year.<br /><br />In 2014-15, gold was the third-largest commodity imported to India after crude oil and electronic items. In the respective fiscal, the country's imports stood at USD 34.32 billion.<br />In terms of volume, India -- the world's second-biggest gold consumer -- had imported around 900 tonnes in 2014.<br /><br />Gold prices in the international market have fallen to a five-year low.<br /><br />India imported 850 tonnes of gold during January-September period of 2015 as against 650 tonnes in the year-ago period.<br /></p>