India’s merchandise exports increased 25.3% year-on-year last month to $34.5 billion, aided by healthy growth in sectors such as gems and jewellery, engineering goods, petroleum products and chemicals.

Gems and jewellery exports were at $3.2 billion, 13.6% higher than the corresponding period last year. Exports of engineering goods soared 24.1% year-on-year to $9.2 billion. Petroleum product exports stood at $4.1 billion, 95.2% higher than a year earlier. Electronic goods exports rose 15.4% to $1.36 billion during the month.

Meanwhile, exports of commodities such as iron ore, oil seeds, tea, spices and drugs fell in January. Drugs and pharmaceutical exports fell 1.2% on an annual basis to $2 billion in January.

Non-petroleum and non-gems & jewellery exports rose 20.1% year-on-year to $27.1 billion whereas non-petroleum, non-gems & jewellery imports rose 31.3% year-on-year to $34.6 billion.