The country's exports grew by 6.16 per cent to $27.45 billion in January, according to data released by the commerce ministry. Imports too grew by 2 per cent to about $42 billion, leaving a trade deficit of $14.54 billion during the month under review, the data showed.
Exports during April-January this fiscal dipped by 13.58 per cent to $228.25 billion, while imports declined by 25.92 per cent to $300.26 billion.
"India's overall exports including merchandise and services combined in April-January2020-21 are estimated to be $396.60 billion, exhibiting a negative growth of 10.63 per cent over the same period last year. Overall imports in April-January 2020-21 are estimated to be $398.47 billion, exhibiting a negative growth of 22.80 per cent over the same period last year," Ministry of Commerce & Industry said in a press release.
Overall trade deficit for April-January 2020-21 is estimated at $1.87 billion as compared to the deficit of $72.40Billion in April-January 2019-20.
Oil imports in January were $9.40 billion, which was 27.72 per cent lower in dollar terms, compared to $13.01 billion in January 2020. Oil imports in April-January 2020-21 were $63.09 billion, 42.50 per cent lower compared to $109.72 billion, over the same period last year, the ministry added.