Exports up 3.74 pc in Jan; trade deficit narrows

The country's exports grew 3.74 per cent to USD 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 USD 41 billion during the last month, narrowing the trade deficit to USD 14.73 billion.

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

Gold imports also grew 38.16 per cent to USD 2.31 billion in January this year as against USD 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 USD 271.8 billion. Imports rose by 11.27 per cent to USD 427.73 billion.

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

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