India's merchandise exports continued to drop in January 2023, falling to $32.91 billion from $35.23 billion in January 2022, media reports quoted. Imports of goods, too, declined during January 2023, although at a lower rate to $50.66 billion from $52.57 billion in January 2022, as per the quick estimates issued by the Commerce Department on Wednesday. Goods exports in December 2022 stood at $34.48 billion. In the April-January 2022-23 period, exports increased 8.5 per cent to $369.25 billion while imports increased 21.89 per cent to $602.2 billion. Trade deficit in January stood at $17.75 billion.
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