Exports up 25.1% to $34.57 billion in Feb; trade deficit widens to $20.88 billion
- IBEF
- March 15, 2022
According to figures issued by the Ministry of Commerce, India's exports increased by 25.1% to US$ 34.57 billion in February, owing to strong development in industries such as engineering, petroleum, and chemicals.
Imports increased by 36% to US$ 55.45 billion, with inbound shipments of petroleum and crude oil increasing by 69% to US$ 15.28 billion.
The trade deficit increased to US$ 20.88 billion, compared to US$ 13.12 billion in February 2021.
Merchandise exports stood at US$ 374.81 billion in April-February 2021-22, up from US$ 256.55 billion in April-February 2020-21, indicating a positive growth of 46.09%.
Gold imports fell 9.65% to US$ 4.8 billion, while electronic products imports increased by 29.53% to US$ 6.27 billion. Exports of engineering items, petroleum, and chemicals climbed by 32%, 88.14%, and 25.38 % respectively, to US$ 9.32 billion, US$ 4.64 billion, and US$ 2.4 billion. Pharmaceutical exports fell 1.78% to US$ 1.96 billion.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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