Economy

Exports show signs of improvement, up 22.47% during Nov 1-7: Official

Updated : November 10, 2020 12:33 PM IST

The exports during the first week of November last year was USD 5.51 billion.

Exports of pharmaceuticals, and gems and jewellery grew 32 percent to USD 139.12 million.

Showing signs of improvement, the country’s exports grew 22.47 percent 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 USD 5.51 billion.

Imports in November (1st – 7th) this year too increased by 13.64 percent year-on-year to USD 9.30 billion as against USD 8.19 billion, the official said. Imports, excluding petroleum, jumped 23.37 percent during the week, the official added. Trade deficit during the week stood at USD 2.55 billion.

Exports of pharmaceuticals, and gems and jewellery grew 32 percent to USD 139.12 million and 88.8 percent to USD 3,360.71 million, respectively. Similarly, the outbound shipments of engineering goods increased by 16.7 percent to USD 215.13 million during the week.

Sectors which recorded negative growth include petroleum, marine products and leather goods. During the period, exports to the US, Hong Kong and Singapore rose by 53.91 percent, 176.2 percent and 90.76 per cent, respectively.

The country’s export had also recorded positive growth in September but declined 5.4 percent to USD 24.82 billion in October.

Exports show signs of improvement, up 22.47% during Nov 1-7: Official

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