Country’s exports contracted by 11.19 per cent to USD 23.88 billion in January this year compared to that in the same month in 2014, with main sectors such as cotton yarn, chemicals, pharmaceuticals and gems and jewellery performing poorly.
Exports in January 2014 stood at USD 26.89 billion.
Imports declined by 11.39 per cent to USD 32.2 billion during the month under review, leaving a trade deficit of USD 8.32 billion, according to the data released by the Commerce Ministry.
The trade gap in January last year was USD 9.45 billion. Gold imports in January this year grew by 8.13 per cent to USD 1.55 billion.
Outbound shipments of cotton yarn, chemicals, pharmaceuticals and gems and jewellery contracted by 9.15 per cent, 10.52 per cent, 0.16 per cent and 3.73 per cent, respectively in January this year.
Exports of tea, coffee, rice, tobacco and spices also recorded a negative growth in the month under review.