New Delhi: The Union Ministry of Commerce and Industry informed that the country’s exports surged by 23.69% to $ 34.06 billion in January. As per the data released by the ministry, the healthy performance by engineering, petroleum and gems and jewellery segments is behind the surge in exports.
The overall imports in the month of January rose by 23.74% $ 52.01 billion. The trade deficit widened to $ 17.94 billion during the month. In January last year, the trade deficit was at $ 14.49 billion. Trade deficit is the difference between imports and exports of the country.
Exports during April-January 2021-22 rose by 46.53% to $ 35.44 billion as against $ 228.9 billion in the same period last year. Imports during the period climbed by 62.68% to $ 495.83 billion. Trade deficit was at $ 160.38 billion during April-January 2021-22 as compared to $ 75.87 billion in April-January 2020.
Gold imports in January slipped by 40.42% to $ 2.4 billion. Crude oil imports rose by 21.3% to $ 11.43 billion in January. Engineering exports rose by 24.13%to $ 9.2 billion, petroleum by 74.73% to $ 3.73 billion and gems and jewellery by 13.83% to $ 3.23 billion.