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India’s exports up 2.44% in February; trade deficit narrows to $9.60 bn

New Delhi: India’s exports grew 2.44 percent to USD 26.76 billion in February on account of growth in sectors such as pharmaceuticals, textiles, handloom, engineering goods and chemicals, according to data from the commerce ministry.

Imports, however, fell 5.41 percent USD 36.26 billion. The trade deficit for February was estimated at USD 9.60 billion as against the deficit of USD 12.30 billion in the same period last year.

During the April-February period of the current financial year, exports grew 8.85 percent to USD 298.47 billion. Imports rose by 9.75 percent to USD 464.00 billion.

Overall trade deficit for April-February 2018-19 is estimated at USD 93.32 billion as compared to USD 82.46 billion in April-February 2017-18, official data showed.

Non-petroleum and non Gems and Jewellery exports in February grew 5.14 percent to USD 19.87 billion. During the April-February period of the current financial year, Non-petroleum and non Gems and Jewellery exports increased of 7.66 percent to USD 217.43 billion.

Oil imports in February were 8.05 percent lower at USD 9.38 billion.