New Delhi: Of India export According to preliminary data released by the commerce ministry on Wednesday, the trade deficit widened 22.36 per cent to $33.81 billion in February on healthy growth in sectors such as engineering, petroleum and chemicals, while the trade deficit widened to $21.19 billion.
Imports also rose nearly 35 percent to $55 billion during the month, with petroleum and crude arrivals rising 66.56 percent to $15 billion.
The trade deficit – the difference between imports and exports – stood at $13.12 billion in February 2021.
“India’s goods exports stood at $374.05 billion in April 2021-February 2022, an increase of 45.80 per cent from $256.55 billion in April 2020-February 2021,” it said.
Imports rose 59.21 percent to $550.12 billion during the 11-month period.
The trade deficit during the period widened to $176.07 billion as against $88.99 billion during April-February 2020-21.
According to the data, gold imports in February declined by 11.45 percent to $ 4.68 billion.
Imports of electronic goods rose nearly 29 per cent to $6.24 billion.
Exports of engineering goods, petroleum and chemicals rose 31.34 per cent, 66.29 per cent and 24.74 per cent to $9.27 billion, $4.1 billion and $2.4 billion, respectively, in February.
However, pharmaceutical exports declined by 3.13 per cent to $1.9 billion in February.
Commenting on the figures, Federation of Indian Export Organization (FIEO) said that though the government has announced several measures to support exports, the need of the hour is to announce the extension of the interest equalization scheme soon. and transfer of MEIS be allowed. Merchandise Export from India Scheme), and increase the validity of scrips to 24 months.
FIEO President A Sakthivel said, “The export growth in February has once again demonstrated the continued resilience of India’s export sector.”
Imports also rose nearly 35 percent to $55 billion during the month, with petroleum and crude arrivals rising 66.56 percent to $15 billion.
The trade deficit – the difference between imports and exports – stood at $13.12 billion in February 2021.
“India’s goods exports stood at $374.05 billion in April 2021-February 2022, an increase of 45.80 per cent from $256.55 billion in April 2020-February 2021,” it said.
Imports rose 59.21 percent to $550.12 billion during the 11-month period.
The trade deficit during the period widened to $176.07 billion as against $88.99 billion during April-February 2020-21.
According to the data, gold imports in February declined by 11.45 percent to $ 4.68 billion.
Imports of electronic goods rose nearly 29 per cent to $6.24 billion.
Exports of engineering goods, petroleum and chemicals rose 31.34 per cent, 66.29 per cent and 24.74 per cent to $9.27 billion, $4.1 billion and $2.4 billion, respectively, in February.
However, pharmaceutical exports declined by 3.13 per cent to $1.9 billion in February.
Commenting on the figures, Federation of Indian Export Organization (FIEO) said that though the government has announced several measures to support exports, the need of the hour is to announce the extension of the interest equalization scheme soon. and transfer of MEIS be allowed. Merchandise Export from India Scheme), and increase the validity of scrips to 24 months.
FIEO President A Sakthivel said, “The export growth in February has once again demonstrated the continued resilience of India’s export sector.”