According to disaggregated data released by the commerce department, a decline in exports to Northeast Asia, comprising China (-27.9 per cent), Hong Kong (-9.9 per cent), South Korea (-17.7 per cent), Japan (-11.5 per cent), pared India’s overall exports growth. While the “Zero Covid” policy in China for most of FY23 reduced demand for Indian goods, Japan and South Korea slashed imports of diamonds and petroleum products from India, as it sourced such items from the sanctioned-hit Russia.