Exports Down 2.38% in Jan, Trade Deficit Rises to $23 Billion

Trade deficit was $21.94 billion in Dec, $16.55 billion in Jan 2024

- OUR CORRESPONDENT

NEW DELHI: India's exports declined for the third month in a row in January, falling by 2.38 percent year-on-year to $36.43 billion, while the trade deficit widened to $22.99 billion in the month.

Imports rose by 10.28 percent year-on-year to $59.42 billion in January due to an increase in gold shipments, according to the Commerce Ministry data.

The trade deficit was $21.94 billion in December and $16.55 billion in January last year.

Commerce Secretary Sunil Barthwal told reporters that despite economic uncertainties in the world, India's exports are doing better in both goods and services sectors.

He said that sectors like electronics, pharma, rice and gems and jewellery are registering healthy growth rates during the month under review.