Exports contracts 2.38%; trade deficit widens to $23 bn – The Tribune-OxBig News Network

India’s exports declined for the third month in a row in January, falling by 2.38 per cent year-on-year to USD 36.43 billion, while the trade deficit widened to USD 22.99 billion in the month.

Imports rose by 10.28 per cent year-on-year to USD 59.42 billion in January due to an increase gold shipments. The Commerce Secretary said India’s exports are doing better in both goods and services sectors.