Indian exports grew by 5.4% in 2021

Indian exports grew by 5.4% this year, said the Ministry of Commerce and Industry. The highest growth in exports is seen in the engineering goods. The exports of engineering goods to South Africa have increased drastically while the exports for such goods to USA has increased by 16.3%.

The increase in the exports of pharmaceutical products was of 16.4%. According to the commerce ministry, iron ore increased drastically by 108.7% year on year.

When it comes to imports, there has been an increase of USD 842 million during last month which is just 2% growth as compared to last year. The overall imports saw a fall in petroleum products by 27.7%.

Imports of transport parts saw a negative trend with a decrease of approximately 26% year on year. Putting together the export & import data, a narrow trade deficit by 3.6% year on year has been observed for last month.