The country's exports grew 16.22 per cent year-on-year to USD 6.21 billion in the first week of January, mainly driven by healthy growth in pharmaceuticals, and engineering sectors, reflecting signs of revival, an official said on Sunday.
The exports during the first week of January last year were at USD 5.34 billion.
Imports during January 1-7 this year too increased by 1.07 per cent to USD 8.7 billion as against USD 8.6 billion in the same period of 2020, the official said.
Imports, excluding petroleum, increased by 6.56 per cent during the week, the official added.
Exports of pharmaceuticals, petroleum and engineering grew 14.4 per cent (USD 61.62 million), 17.28 per cent (USD 114.72 million), and and 51.82 per cent (USD 636.77 million), respectively.
The rate of contraction in the outbound shipments was 8.74 per cent in November 2020. The country's exports had shrunk marginally by 0.8 per cent in December 2020.
The improvement was mainly due to the increase in shipments of certain sectors such as gems and jewellery, engineering and chemicals.
After a gap of nine months, imports in December 2020 had recorded a positive growth of 7.6 per cent at USD 42.6 billion.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU