Exports up 25.1% to $34.57 bn in Feb; trade deficit widens to $20.88 bn


India’s exports rose 25.1 percent to USD 34.57 billion in February on account of healthy growth in sectors like engineering, petroleum and chemicals, even as the trade deficit widened to USD 20.88 billion, according to data released by the commerce ministry on Monday. Imports during the month too jumped 36 percent to USD 55.45 billion, with inbound shipments of petroleum and crude oil surging 69 percent to USD 15.28 billion.

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

“Merchandise exports for the period April-February 2021-22 was USD 374.81 billion as against USD 256.55 billion during the period 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 USD 550.56 billion. Trade deficit during this period widened to USD 175.75 billion as against USD 88.99 billion during April-February 2020-21.

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

Pharmaceutical exports, however, slipped by 1.78 percent to USD 1.96 billion in February. (PTI)