Economic News

Exports rise 5.37% in January; trade deficit narrows to $14.75 billion
Exports rise 5.37% in January; trade deficit narrows to $14.75 billion

The country’s exports grew 5.37 percent YoY to $27.24 billion in January 2021, mainly driven by healthy growth in the pharma and engineering sectors, according to provisional data of the commerce ministry. 

The trade deficit during the month narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020.

Imports in January 2021 rose 2 percent to $42 billion. Exports of pharmaceuticals and engineering grew 16.4 percent ($293 million), and about 19 percent ($1.16 billion), respectively, the data showed.

The other sectors which recorded healthy growth include oil meals (253 percent), Iron ore (108.66 percent), tobacco (26.18 percent), rice (25.86 percent), fruits and vegetables (24 percent), carpet (23.69 percent), handicrafts (21.92 percent), spices (20.35 percent), ceramic products and glassware(19 percent), tea (13.35 percent), cashew (11.82 percent), plastic (10.42 percent), and chemicals (2.54 percent).

Export sectors that recorded negative growth include petroleum products (-37.34 percent), ready-made garments of all textiles (- 10.73 percent), and leather (- 18.6 percent). In December 2020 also, the country’s merchandise exports recorded a growth of 0.14 percent. 


Earning resource
Index View Opinions

you can follow this in your own risk.

Coming soon

Earning resource
Sign up for our newsletter

Sign up to our Newsletter to get the latest news and offers.

Earning resource