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Exports surge by 50 pc, imports up 70 pc in 1st week of Aug.
On account of healthy growth in shipments of engineering goods, gems, and jewelry as well as petroleum products, India’s exports rose by 50.45 percent to a value of $7.41 billion while imports jumped by 70 percent during August 1-7, 2021, according to provisional Commerce Ministry data.
Exports of engineering goods increased by 63 percent to $834 million, while outbound shipments of gems & jewelry rose by 121 percent to $418 million. Petroleum products exports increased by 145 percent to $522 million. However, exports of iron ore, oil meals, and oilseeds recorded negative growth.
Oil imports during August 1-7 surged by about 141 per cent to $1.80 billion. Similarly, imports of electronic goods rose by nearly 31 per cent to $308 million, as per a report.
source - eximin.net
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