India's exports grew by 52.39 per cent to USD 7.71 billion during the first week of this month on account of healthy growth in shipments in sectors including engineering, gems and jewellery and petroleum products, according to preliminary data of the commerce ministry. Imports too rose by about 83 per cent to USD 9.1 billion during June 1-7. Exports of engineering, gems and jewellery and petroleum products increased by 59.7 per cent to USD 741.18 million, 96.38 per cent to USD 297.82 million and 69.53 per cent to USD 530.62 million respectively, the data showed.
However, exports of iron ore, oil seeds and spices recorded negative growth during June 1-7. Imports of petroleum and crude oil jumped by 135 per cent to USD 1.09 billion. Imports of electronic goods and pearls, precious and semi-precious stones increased by 45.85 per cent to USD 324.77 million and 111 per cent to USD 294 million respectively. Exports to the US, UAE and Bangladesh rose by about 60 per cent to USD 500 million, 57.86 per cent to USD 173 million and 212 per cent to USD 166.3 million respectively.
Similarly, imports from China, the US, and UAE grew by 90.94 per cent to USD 809.53 million, 89.45 per cent to USD 410.65 million and 164.55 per cent to about USD 400 million respectively. India's exports grew by 67.39 per cent to USD 32.21 billion in May, driven by healthy growth in sectors such as engineering, and petroleum products.