New Delhi, Feb 15,2023: India’s exports in January fell by 6.58 per cent to $32.91 billion as against $35.23 billion in the same month last year, a data stated on Wednesday.

The fall was due to slowdown in global demand.

Similarly, imports also declined in January by 3.63 per cent to $50.66 billion as against $52.57 billion in the same month last year.

Trade deficit in January was $17.75 billion, a 12-month low.

Cumulatively, however, during April-January 2022-23, the country’s merchandise exports rose 8.51 per cent to $369.25 billion, while imports increased 21.89 per cent to $602.20 billion, the data showed.

Export sectors that recorded negative growth during the 10-month period of this fiscal include engineering goods, iron ore, plastic and linoleum, gems and jewellery.