Exports grow 3.74% to $26.36 bn in Jan; trade deficit narrows to $14.73 bn

Economy

 

The country's exports grew 3.74 per cent to $26.36 billion in January on account of growth in sectors such as gems & jewellery, pharmaceuticals and chemicals, according to data from the commerce ministry.

Imports almost remained flat at $41 billion during the last month, narrowing the trade deficit to $14.73 billion.

The trade deficit stood at $15.67 billion in January 2018.

Gold imports also grew 38.16 per cent to $2.31 billion in January this year as against $1.67 billion in the corresponding month of 2018.

During the April-January period of the current financial year, exports grew 9.52 per cent to $271.8 billion. Imports rose by 11.27 per cent to $427.73 billion.

The trade deficit widened to $155.93 billion during the 10 months of the current fiscal from $136.25 billion in April-January 2017-18.

Oil imports in January rose by 3.59 per cent to $11.24 billion.