Jan export growth rate dips to 9.07%; trade deficit widens to 56-month high

The figures made clear that India is set to overshoot in 2017-18 the $380.36 billion import bill of the previous financial year

Growth in exports reduced in January to 9.07 per cent, from 12.03 per cent in December.

With exports of $24.38 billion, the growth rate in January dipped to a single digit for the first time in three months. The rate in December more than halved to 12.4 per cent, from November’s 30.5 per cent.

“More than 6 per cent of the growth has been contributed by petroleum products. More importantly, labour-intensive sectors like garments, carpets, handicrafts, and man-made textiles are exhibiting negative growth, primarily due to liquidity crunch because of funds getting blocked under the goods and services tax regime,”