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February exports drop 21.7% from year earlier

February exports drop 21.7% from year earlier
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First Published: Wed, Apr 01 2009. 01 23 PM IST
Updated: Wed, Apr 01 2009. 01 23 PM IST
New Delhi: India’s exports fell an annual 21.7% in February to $11.91 billion, government data showed on Wednesday, a fifth straight fall as the global slowdown slashed demand for Indian goods.
The trade deficit narrowed to $4.9 billion in February from $6.1 billion in January due to a sharp fall in imports.
Imports fell an annual 23.3% to $16.82 billion in February. Oil imports fell 47.5% during the month from a year earlier to $4.05 billion.
Exports during April to February, the first 11 months of 2008-09, were up 7.3% at $156.6 billion from a year earlier, while the trade deficit during the period rose to $115.1 billion from $82.2 billion a year ago.
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First Published: Wed, Apr 01 2009. 01 23 PM IST
More Topics: Exports | India | Trade deficit | Inflation | Imports |