India’s overall exports log 14.57% growth in January 2023, climb to $65.15 billion

New Delhi: India’s exports logged a 14.57 per cent increase year-on year in January 2023 to $65.15 billion as against $56.86 billion in the corresponding month of last year, the Union Commerce Ministry said in a statement on Wednesday. The country’s overall exports indicate exports of merchandise and services combined. The overall import has also witnessed a marginal increase of 0.94 per cent to $66.42 billion in January 2023 as compared to $65.80 billion that the country registered in January 2022. Contracting for the second month in a row, India’s merchandise exports dipped by 6.58 per cent to $32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of $17.75 billion during the month. The merchandise trade deficit for the April-January period this fiscal stood at about $233 billion. Merchandise import decreased to $50.66 billion as against $52.57 billion, according to the official data. During the period of April to January 2022-23, overall export grew 17.33 per cent to $641.24 billion as against $546.55 billion in the corresponding period of the last fiscal i.e. April to January 2021-22. Sectors that recorded negative growth as far as exports are concerned during the 10-months period of this fiscal include engineering goods, iron ore, plastic and linoleum, gems and jewellery. Engineering exports dipped by 3.37 per cent to $88.27 billion during April-January 2022-23. In the same period, gems and jewellery shipments declined by 0.54 per cent to $31.61 billion. Sectors which recorded positive growth include petroleum products, electronic goods, rice, ready-made garments of textiles and chemicals. Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.