Exports rise 3.7% in January; trade deficit widens to $14.7 billion

Imports also remained almost flat, growing by just 0.01% in January

Although at a three-month high, exports rose barely 3.74 per cent in January as major foreign exchange earners such as engineering goods and refinery products either registered subdued growth or contraction in their outbound shipments.

This is because of a slowdown in global growth, which has been hit by a trade war between the two economic giants — US and China.

Exports have remained lacklustre in the previous two months as well — growing by 0.80 per cent in November and 0.30 per cent in December. 

The muted growth could be gauged from the fact that exports had increased by over 17 per