Trade deficit narrows to $9.8 billion in January

Exports grew 4.3% to $22.12 bn while imports rose at highest pace in more than two years to $31.9 bn

Rising for the fifth straight month, merchandise exports grew by 4.32% in January as compared to the 5.7% rise seen in the previous month of December.

Exports registered $ 22.11 billion in January after reaching a 21-month high in absolute terms in December to $23.88 billion, according to data issued by the Commerce and Industry Ministry on Wednesday.

However, imports grew by 10.70% to $31.95 billion, the highest pace seen in more than two years, on account of a sharp uptick in international crude prices.

This also led to higher realization from petroleum exports, which rose by nearly 29% in