Marginal Rise in Merchandise Exports Amid Surging Imports
The country's merchandise exports slightly increased by 0.61% to USD 36.56 billion in January. However, imports surged by 19.2% to USD 71.24 billion, resulting in a trade deficit of USD 34.68 billion. Exports of goods and services are expected to surpass USD 860 billion this fiscal year.
- Country:
- India
Merchandise exports in the country saw a marginal uptick of 0.61% in January, reaching USD 36.56 billion, according to Commerce Secretary Rajesh Agrawal.
Despite this rise, imports have significantly grown by 19.2%, amounting to USD 71.24 billion for the same period, which led to a trade deficit of USD 34.68 billion.
Agrawal also noted the overall upward trend in both goods and services exports, predicting a total surpassing USD 860 billion for this fiscal year.
Advertisement
ALSO READ
-
WRAPUP 2-US weekly jobless claims fall; trade deficit widens by the most in nearly 34 years
-
UPDATE 3-Canada records big jump in trade deficit in November as US exports fall
-
U.S. Trade Deficit Surges: Impact of AI Investment on Economic Growth
-
Canada Faces Steep Climb in International Trade Deficit
-
Canada's Trade Deficit Swells as Exports Slide
Google News