India's exports surge by 297% in first week of April

 India`s goods exports posted a 297.2 percent increase (year-on-year) in the first seven days of this fiscal to $6.79 billion and by 8.42 percent (YoY) over the corresponding period of 2019-20. Imports in the first week of 2021-22 (April 1-7) increased 244.2 percent to $ 9.66 billion and decreased by 0.65 percent (YoY) over 2019-20 during the week.

The data showed that the export of engineering goods showed an increase of 209.65 percent (YoY) over 2020-21 and of 8.4 percent YoY over 2019-20. Exports of gems and jewellery and petroleum products also increased.

The US and China accounted for most of the rise in exports during the seven-day period. The imports included petroleum crude and products and electronic goods. UAE and China accounted for a large part of the increase in imports.

The data showed that some of the increase was offset by the decrease in imports of silver, fertilizers, crude, and newsprint. The country's exports and imports in April last year were impacted by the situation created by COVID-19.