InvestorQ : Ha the government released the export and import data for the month of Jan-21 and how do the numbers look like?
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Ha the government released the export and import data for the month of Jan-21 and how do the numbers look like?

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11 months ago
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On 02 February, the government of India released provisional data on merchandise trade. The actual data will be released around 15 February. Here are the highlights.

· There was finally good news on the merchandise exports front as per the provisional data on trade for January 2021 showed positive growth.

· Exports of goods for January 2021 grew at 5.7% and this spurt in exports was led largely by healthcare and engineering goods.

· Pharma and engineering recorded a sharp positive growth of 16.4% to $27.24 billion for the month of February, largely helped with revival in merchandise trade globally.

· Trade deficit for January has narrowed on a yoy basis to $14.75 billion from a peak of $15.3 billion in January 2020. However, the absolute number is still steep.

· Merchandise Imports were also higher by 2% at $42 billion, largely on account of higher crude prices and an expansion in imports.

· The good news is that the total trade measured by the sum of exports and imports, is finally settling above the $70 billion levels and that is a good signal.

· Among various heads of exports, oil meals, iron ore, rice, tobacco, fruits, vegetables and carpets recorded healthy growth on a yoy basis.

· The one area of worry is that during the festive season, the imports of gold in Jan-21 surged by 155% to $2.45 bn. That is lot of forex on an unproductive asset.

· The details of the services exports and imports will only be available in the middle of the month when RBI discloses the details.

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