New Delhi, November 22: During the first seven months of the year both exports and imports registered negative growth rates according to credit rating agency Care Ratings. However, the report said, with imports declining at a faster rate the trade deficit has improved from $ 116.4 bn last year to $ 94.6 bn during April-Oct FY20. In the first seven months of FY20 import declined by 8.5 per cent and export declined by 2.2 per cent, it said.