The trade deficit, the difference between imports and exports, was US$13.12 billion in February 2021.
India’s exports rose 25.1 per cent to $34.57 billion in February, while the trade deficit widened to $20.88 billion, driven by healthy growth in sectors such as engineering, petroleum and chemicals, according to data released by the commerce ministry on Monday.
Imports also rose 36 percent to $55.45 billion during the month, with petroleum and crude oil imports rising 69 percent to $15.28 billion. The trade deficit – the difference between imports and exports – stood at USD 13.12 billion in February 2021.
“Merchant exports for the period April-February 2021-22 stood at USD 374.81 billion, registering a positive growth of 46.09 per cent as against USD 256.55 billion during the period April-February 2020-21,” the ministry said. “
Imports rose 59.33 percent to $550.56 billion during the 11-month period. The trade deficit widened to US$ 175.75 billion during the period, as against US$ 88.99 billion during April-February 2020-21.
According to the data, gold imports in February declined by 9.65 percent to $ 4.8 billion. Imports of electronic goods rose nearly 29.53 per cent to $6.27 billion. Exports of engineering goods, petroleum and chemicals rose 32 per cent, 88.14 per cent and 25.38 per cent to $9.32 billion, $4.64 billion and $2.4 billion, respectively, in February.
However, pharmaceutical exports declined by 1.78 per cent to $1.96 billion in February.
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