The country’s exports have recorded a rise of 5.37 per cent year-on-year to USD 27.24 billion in January 2021, primarily driven by healthy growth in pharmaceuticals and engineering sectors, as per the provisional data of the Commerce Ministry.
The data showed that imports during the month grew 2 per cent to USD 42 billion, leaving a trade deficit of USD 14.75 billion.
Exports of pharmaceuticals and engineering grew 16.4 per cent (USD 293 million), and about 19 per cent (USD 1.16 billion), respectively .
India’s overall exports in April-December 2020-21 were estimated at $348.49 billion, showing a negative growth of 12.65 per cent over the same period last year. Overall imports during April-December declined 25.86 per cent on an annual basis to $343.27 billion.