India, Dec. 15 -- India's trade deficit has narrowed to a five-month low as gold imports fell and exports to the US picked up despite punitive tariffs.

Exports rose to $38.13 billion in November as against $34.48 billion in October, even as imports decreased to $62.66 billion from $76.06 billion, according to data released by the Ministry of Commerce and Industry showed on Monday. That equated to a trade deficit of $24.53 billion. The decline was attributed to lower gold, oil and coal imports and higher US exports-up 10% month-on-month to $6.92 billion.

India's trade deficit had widened to a record high of $41.7 billion in October, as US exports plunged following President Donald Trump's punitive tariffs.

Elsewhere, India's services ex...