Mumbai, Feb. 17 -- India's merchandise exports declined 2.4% to US$ 36.43 billion in January 2025 over a year ago. Meanwhile, merchandise imports gained 10.3% to US$ 59.42 billion. The trade deficit moved up 38.9% to US$ 23.00 billion in January 2025 from US$ 16.55 billion in January 2024.

Oil imports dipped 13.5% to US$ 13.43 billion, while the non-oil imports increased 19.9% to US$ 45.99 billion in January 2025 over January 2024. The share of oil imports in total imports was 22.6% in January 2025, compared with 28.8% in January 2024. The price of Brent crude oil declined 1.0% to US$ 78.25 per barrel in January 2025 over January 2024.

Among the non-oil imports, the major contributors to the overall rise in imports were electronic goods...