India's exports rise for 5th month in January; gold imports drop 30%

New Delhi: India's exports continued to grow for the fifth straight month, expanding by 4.32 percent to USD 22.11 billion in January against USD 21.19 billion in the same month of 2016.

Imports also rose, by 10.70 percent to USD 31.95 billion, during the month under review, leaving a trade deficit of USD 6.38 billion.

However, during the April-January period, exports grew marginally by 1.05 percent to USD 220.92 billion, while imports dipped by 5.81 percent to USD 319.55 billion.

Oil imports were valued at USD 8.14 billion during January, or 61.07 percent higher than the USD 5.05 billion reported in January 2016.

The trade deficit during the ten-month period was USD 86.38 billion against USD 107.74 billion in the same period last year.

The gold imports dipped by 29.94 percent to USD 2.04 billion in December, according to the Commerce Ministry data.

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The country's exports have started recording positive growth since September, 2016. It was in the negative zone between December, 2014 and May, 2016.