Export growth rate dips to 9.07% in Jan Trade deficit balloons to nearly five-year high at $16.3 billion. Growth in exports reduced in January to 9.07 per cent, from 12.03 per cent in December. With exports of $24.38 billion, the growth rate in January dipped to a single digit for the first time in three months. The rate in December more than halved to 12.4 per cent, from November’s 30.5 per cent. “More than 6 per cent of the growth has been contributed by petroleum products. More importantly, labour-intensive sectors like garments, carpets, handicrafts, and man-made textiles are exhibiting negative growth, primarily due to liquidity crunch because of funds getting blocked under the goods and services tax regime,” Ganesh Kumar Gupta, president of the Federation of Indian Exports Organisations, said. Of the 30 major product groups, 20 were in positive territory in January, against 21 in December. On the other hand, the figures made clear that India is set to overshoot i