January 12, 2022
This increase can be attributed to strong performance by various sectors, including engineering, petroleum, and gems and jewellery
Exports amounted to US$ 5.73 billion during the same period in 2021
A healthy growth rate would help in achieving the fiscal export target of US$ 400 billion
Imports increased by approximately 33% during the first week of 2021
India’s exports increased by 33.16% to reach US$ 7.63 billion during the January 1-7 period. This increase can be attributed to strong performance by various sectors, including engineering, petroleum, and gems and jewellery, as per preliminary data from the Ministry of Commerce. Exports amounted to US$ 5.73 billion during the same period in 2021. The ministry stated that the healthy growth rate would help in achieving the fiscal export target of US$ 400 billion.
In addition, imports increased by approximately 33% to reach US$ 11.60 billion during the first week of 2022, as compared to USD 8.72 billion in the same period of 2021. Imports, excluding petroleum, increased by 29.88% over the same period last year.
It must be noted that India’s merchandise exports increased by 37% to US$ 37.29 billion in December 2021, which was the highest-ever monthly figure.