India’s Exports Rise 6% In January; April-January Deficit At $1.87 Billion

The nation’s exports grew by 6.16 per cent to $27.45 billion in January, in response to knowledge launched by the commerce ministry. Imports too grew by 2 per cent to about $42 billion, leaving a commerce deficit of $14.54 billion throughout the month below evaluation, the information confirmed.

Exports throughout April-January this fiscal dipped by 13.58 per cent to $228.25 billion, whereas imports declined by 25.92 per cent to $300.26 billion.

“India’s overall exports including merchandise and services combined in April-January2020-21 are estimated to be $396.60 billion, exhibiting a negative growth of 10.63 per cent over the same period last year. Overall imports in April-January 2020-21 are estimated to be $398.47 billion, exhibiting a negative growth of 22.80 per cent over the same period last year,” Ministry of Commerce & Business stated in a press launch.

Total commerce deficit for April-January 2020-21 is estimated at $1.87 billion as in comparison with the deficit of $72.40Billion in April-January 2019-20.

Oil imports in January had been $9.40 billion, which was 27.72 per cent decrease in greenback phrases, in comparison with $13.01 billion in January 2020. Oil imports in April-January 2020-21 had been $63.09 billion, 42.50 per cent decrease in comparison with $109.72 billion, over the identical interval final 12 months, the ministry added.