Exports show impressive growth in new year

According to the latest data from the Commerce Ministry, merchandise exports grew by 16.2 per cent, year on year, in the first week of January 2021, while imports rose 1.1 per cent. Engineering goods exports rose as much as 51.8 per cent, accounting for over 75 per cent of the incremental exports between January 1 and 7. Petroleum exports rose by 17.3 per cent. However, as regards exports from some of the labour-intensive sectors, garments dropped by 26 per cent and yarn by 22 per cent in the first week of January. Chemicals (both organic and inorganic) exports also dropped, by 5.5 per cent, as per the data.

Source: Exim News Service: New Delhi, Jan. 12