Commerce ministry in its provisional data has said that the country's exports rose by 23.69 per cent to $34.06 billion in January 2022 on healthy performance by engineering, petroleum and gems and jewellery segments. Imports in January grew by 23.74 per cent to $52.01 billion. Trade deficit, difference between imports and exports, widened to $17.94 billion during the month as against $14.49 billion in the same month last year.
Cumulatively, exports during April-January 2021-22 rose by 46.53 per cent to $335.44 billion as against $228.9 billion in the same period last year. Imports during the period jumped by 62.68 per cent to $495.83 billion. Trade deficit stood at $160.38 billion during the ten months period of this fiscal as compared to $75.87 billion in April-January 2020.
According to the data, engineering exports rose by 24.13 per cent to $9.2 billion, petroleum by 74.73 per cent to $3.73 billion and gems and jewellery by 13.83 per cent to $3.23 billion. Pharmaceuticals exports, however, dipped by 1 per cent to $2.05 billion in January. Besides, gold imports in January dipped by 40.42 per cent to $2.4 billion. Crude oil imports rose by 21.3 per cent to $11.43 billion in January.
