Exports up 25.1% to $34.57 bn in February: Trade deficit widens to $20.88 bn

Imports during the month too jumped 36 percent to $55.45 billion, with inbound shipments of petroleum and crude oil surging 69 percent to $15.28 billion.

India’s exports rose 25.1 percent to $34.57 billion in February on account of healthy growth in sectors like engineering, petroleum and chemicals, even as the Trade deficit widened to $20.88 billion, according to data released by the commerce ministry on Monday.

Imports during the month too jumped 36 percent to $55.45 billion, with inbound shipments of petroleum and crude oil surging 69 percent to $15.28 billion.

Trade deficit — the difference between imports and exports — stood at $13.12 billion in February 2021.

”Merchandise exports for April-February 2021-22 was $374.81 billion as against $256.55 billion during April-February 2020-21, registering a positive growth of 46.09 percent,” the ministry said.

Imports during the 11-month period rose 59.33 percent to $550.56 billion. Trade deficit during this period widened to $175.75 billion as against $88.99 billion during April-February 2020-21.

According to the data, gold imports in February dipped by 9.65 percent to $4.8 billion. Imports of electronic goods rose about 29.53 percent to $6.27 billion. Exports of engineering goods, petroleum and chemicals in February increased by 32 percent, 88.14 percent and 25.38 percent to $9.32 billion, $4.64 billion and $2.4 billion, respectively.

Pharmaceutical exports, however, slipped by 1.78 percent to $1.96 billion in February.

PTI