Exports show signs of revival, up 16 %

NEW DELHI: The country’s
exports grew
16.22 per cent year-on-year to USD 6.21 billion in the first week
of January, mainly driven by healthy growth in pharmaceuticals, and engineering sectors, reflecting
revival, an official said on Sunday.

during the first week
of January last year were at USD 5.34 billion.

during January
7 this year too increased by 1.07 per cent to USD 8.7 billion as against USD 8.6 billion in the same period
of 2020, the official said.

Imports, excluding petroleum, increased by 6.56 per cent
during the week, the official added.

of pharmaceuticals, petroleum and engineering grew 14.4 per cent (USD 61.62 million), 17.28 per cent (USD 114.72 million), and and 51.82 per cent (USD 636.77 million), respectively.

The rate
of contraction in the outbound shipments was 8.74 per cent in November 2020. The country’s
exports had shrunk marginally by 0.8 per cent in December 2020.

The improvement was mainly due to the increase in shipments
of certain sectors such as gems and jewellery, engineering and chemicals.

After a gap
of nine months, imports in December 2020 had recorded a positive growth
of 7.6 per cent at USD 42.6 billion.

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