Mumbai: The Union Ministry of Commerce and Industry has announced that India’s goods export in January 2022 has surged by 25.28% to $ 34.5 billion. The export has reached near the target of $ 400 billion. The surge in the export of engineering goods, gems & jewellery, readymade garments and electronics has supported this.
As per the data, the trade deficit is at $ 14.499. Trade deficit is the difference between imports and exports. Cumulatively, exports increased by 46.73% to $ 335.88 billion during April 2021-January 2022, from $ 228.92 billion in the corresponding period a year ago.
Imports during the April-January period expanded by 62.65% to $ 495.75 billion. Trade deficit stood at $ 159.87 billion during the ten-month period as against $ 75.87 billion in the same period a year earlier.