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Rediff News  All News  » Business » Exports up 0.8% in January, imports rise 6%

Exports up 0.8% in January, imports rise 6%

February 13, 2013 12:00 IST

DollarsIndia's exports rose at an annual rate of 0.8% in January and imports for the month rose 6%, leaving a trade deficit of $20 billion, a senior trade ministry official said on Wednesday.

Exports between April and January fell 4.9% to $239.7 billion.

India's exports have fallen

since last year as demand slowed from major sales destinations, adding to the country's economic gloom and heightening worries about its trade and current account deficits.

The government is hopeful that exports in January will help close the trade gap, Commerce Minister Anand Sharma said.

Sharma said gold imports are a matter of concern and a balanced approach is needed towards gold import.

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Tags: Sharma, India