<h1>Merchandise export growth accelerates, while imports continue to outpace exports, widening the trade deficit and shifting sectoral composition.</h1> Merchandise exports and imports both rose in January 2022 compared with January 2021 and January 2020; exports increased substantially led by engineering goods, petroleum products, gems and jewellery, chemicals, textiles and electronics, while imports were driven by petroleum and products, electronic goods, machinery, chemicals and non-ferrous metals. Non-petroleum and non-petroleum non-gems-and-jewellery exports and imports recorded positive growth in January 2022 and cumulatively for April-January 2021-22, but import growth contributed to a larger monthly and cumulative trade deficit.