Business News | Exports Dip by 0.2 Pc to $27.6 Billion in February

New Delhi [India], March 2 (ANI): India's merchandise exports in February totalled 27.67 billion dollars, down 0.25 per cent from 27.74 billion dollars in the year-ago period, official data showed on Tuesday.

On the other hand, imports increased by 6.98 per cent to 40.55 billion dollars from 37.9 bilion dollars in February 2020.

Thus the trade deficit widened to 12.88 billion dollars in February 2021 as compared to 10.16 billion dollars in February 2020, the Ministry of Commerce and Industry said in a statement.

From April to February, exports totalled 255.9 billion dollars as compared to 291.8 billion dollars during the same period of last year, marking a negative growth of 12.32 per cent.

The imports declined by 23 per cent to 340.8 billion dollars as compared to 443.2 billion dollars in the same period.

The value of non-petroleum exports last month was 25.1 billion dollars, up 3.55 per cent over February 2020 while oil imports were down by 16.63 per cent to 8.9 billion dollars as compared to 10.7 billion dollars in February 2020.

Non-oil imports in February 2021 were estimated at 31.5 billion dollars as compared to 27.1 billion dollars in February 2020, showing an increase of 16.37 per cent.

Among the major commodities of exports, which clocked positive growth were oil meals, iron ore, rice, meat, dairy and poultry products, carpet, spices, pharmaceuticals and chemicals.

Those with negative growth included petroleum products, leather, cashew, gems and jewellery, engineering goods, tea and coffee. (ANI)

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