Driven by healthy growth in pharmaceuticals, gems and jewellery and engineering sectors, India’s exports showed signs of improvement with growth of 22.47 per cent year-on-year to $6.75 billion in the first week of November. The exports during the first week of November last year was $5.51 billion.
Imports in November (1st - 7th) this year too increased by 13.64 per cent year-on-year to $9.30 billion as against $8.19 billion. Imports, excluding petroleum, jumped 23.37 per cent during the week. Trade deficit during the week stood at $ 2.55 billion.
Exports of pharmaceuticals, and gems and jewellery grew 32 per cent to $139.12 million and 88.8 per cent to $3,360.71 million, respectively. Similarly, the outbound shipments of engineering goods increased by 16.7 per cent to $215.13 million during the week.
Sectors which recorded negative growth include petroleum, marine products and leather goods. During the period, exports to the US, Hong Kong and Singapore rose by 53.91 per cent, 176.2 per cent and 90.76 per cent, respectively.