India's exports show signs of improvement
Published On: Tuesday, November 10, 2020 | By: Team KnowMyStock
India's exports grew 22.47 per cent year-on-year to $6.75 billion in the first week of November, Showing signs of improvement, mainly driven by healthy growth in pharmaceuticals, gems and jewellery and engineering sectors, an official said today(10th November 2020). The exports during the first week of November last year was $5.51 billion. Imports in November (1st - 7th) this year too increased by 13.64 percent year-on-year to $9.30 billion as against $8.19 billion, the official said. Imports, excluding petroleum, jumped 23.37 percent during the week, the official added. The trade deficit during the week stood at $2.55 billion. Exports of pharmaceuticals, and gems and jewelry grew 32 per cent to $139.12 million and 88.8 per cent to $3,360.71 million, respectively.
Similarly, the outbound shipments of engineering goods increased by 16.7 per cent to $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 per cent, 176.2 per cent and 90.76 per cent, respectively.The country's export had also recorded positive growth in September but declined 5.4 per cent to $24.82 billion in October.
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