GOODS EXPORTS FALL FOR 3RD MONTH, TRADE DEFICIT WIDENS

India's goods exports fell for the third straight month due to lower oil prices, pushing up the trade deficit in Jan as imports grew at the fastest pace since April.

Latest data released by the commerce department on Monday estimated that exports fell 2.4% in Jan to $36.4 billion, although non-oil exports shot up 14.5% to $32.9 billion. In contrast, exports of petrol and diesel crashed 58% to $3.5 billion - making electronics (79% jump to $4.1 billion) the second largest item in India's export basket after engineering. During Jan, imports were up 10.2% to $59.4 billion, resulting in a trade deficit of $23 billion compared with $16.6 billion in Jan 2024.

Learn More