Trade watch: Low demand for goods from China, others sinks imports

Import from India's key crude oil suppliers -- Saudi Arabia and Iraq -- contracted 14.3 per cent and 11.2 per cent, respectively

Shreya Nandi New Delhi
trade, trade deals

Photo: Bloomberg

A decline in demand from six of India’s top 10 import partners -- China, Saudi Arabia, Iraq, South Korea, Australia, and Singapore -- resulted in India’s imports hitting a 17-month low of $50.6 billion in January, showed the data compiled by the department of commerce.
Shipments from South Korea, Australia, and Singapore declined by 14.1 per cent, 26.7 per cent, and 9.8 per cent, respectively.
Among the 10, growth in inbound shipment was seen only in the case of the United Arab Emirates (12.1 per cent), the US (27.4 per cent), Russia (297.4 per cent), and Indonesia (22.9 per cent).

Also Read

GDP growth may have beaten MPC's estimate of 6.3% in Q2: Economists

Robust activity in services sector holds up 6.3% GDP growth in Q2

India will not miss estimated 11.1% FY23 nominal GDP growth: Bibek Debroy

State of the economy: What do Q1 GDP estimates suggest?

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

Govt looks to tap section of kirana stores to expand GST base: Report

Trusted fact checkers: Govt to work with tech majors to create a framework

Govt aims to mop up Rs 75K crore from senior citizen savings scheme

Renewable energy firms missing deadlines to be blacklisted for 3-5 years

Trai directs telecom companies to block all unverified telemarketers

First Published: Feb 16 2023 | 9:49 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to