Showing signs of improvement, the country’s exports grew 22.5% year-on-year to $6.8 billion in the first week of November, mainly driven by healthy growth in pharma, gems and jewellery and engineering sectors, a government official said on Tuesday. Exports during the first week of November last year were at $5.5 billion.
Imports in the first week of this month too increased by 14% year-on-year to $9.3 billion as against $8.2 billion, the official said. Imports, excluding petroleum, jumped 23.4% during the week, the official added. Trade deficit during the week stood at $2.6 billion. Exports of pharmaceuticals, and gems & jewellery grew 32% to $139 million and 89% to $3.4 billion, respectively. Sectors that recorded negative growth include petroleum, marine products and leather goods. During the period, exports to the US, Hong Kong and Singapore rose by 54%, 176% and 91%, respectively.
