‘Exports improving, up 22.47% during Nov 1-7’

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November 11, 2020 9:35 AM

Exports of pharmaceuticals, and gems and jewellery grew 32% to $139.12 million and 88.8% to $3,360.71 million, respectively.

export,global tradeFounder Chairman of Trade Promotion Council of India (TPCI) Mohit Singla said there is hope as well as apprehension surrounding the global trade ecosystem.

Showing signs of improvement, the country’s exports grew 22.47% year-on-year to USD 6.75 billion in the first week of November, mainly driven by healthy growth in pharmaceuticals, gems and jewellery and engineering sectors, an official said on Tuesday.

The exports during the first week of November last year was $5.51 billion. Imports in November (1-7) this year, too, increased 13.64% y-o-y to $9.30 billion against $8.19 billion, the official said. Imports, excluding petroleum, jumped 23.37% during the week, the official added. Trade deficit during the week stood at $2.55 billion.

Exports of pharmaceuticals, and gems and jewellery grew 32% to $139.12 million and 88.8% to $3,360.71 million, respectively. Similarly, exports of engineering goods rose 16.7% to $215.13 million in the week. Sectors which recorded negative growth include petroleum, marine products and leather goods.

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