Exports up 10.3 per cent during February 1-8: Official

Exports up 10.3 per cent during February 1-8: Official

Continuing with the positive growth, the country’s exports grew by 10.3 per cent to USD 683 million during the first week of February on account of strong performance by key sectors such as engineering and chemicals, an official said on Wednesday.

Continuing with the positive growth, the country’s exports grew by 10.3 per cent to USD 683 million during the first week of February on account of strong performance by key sectors such as engineering and chemicals, an official said on Wednesday.

Imports too increased by a marginal 0.7 per cent to USD 72.5 million during the week, the official added. Trade deficit narrowed by 19.4 per cent to USD 610 million.

Engineering goods showcased the maximum growth and the outbound shipments witnessed multifold increase to USD 1.6 billion during February 1-8.

Exports of organic and inorganic chemicals stood at USD 617 million during the period. However, some sectors which recorded negative growth include meat, dairy and poultry products; oil meals; and fruits and vegetables.

Further, gold imports increased by 70.7 per cent to USD 391.9 million during the week. Imports of petroleum products dipped 29.5 per cent to USD 951.7 million.

Exports in December 2020 and January had recorded positive growth.

News source : Financial Express

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