India's February trade deficit widens to $12.88 bn, imports up 7%
Premium- Merchandise exports fell 0.25% in February from a year earlier to $27.67 billion, while imports were up 6.98% to $40.55 billion, the data showed
- April-February exports are down 12% at $255.9 billion while imports in the same period is down 23% at $340.88 billion, the state showed
India's trade deficit in goods widened to $12.88 billion in February from $10.16 billion during the same period a year earlier, an increase of 25.84%, preliminary data released by the government on Tuesday showed.
Merchandise exports fell 0.25% in February from a year earlier to $27.67 billion after two successive months of positive growth amid rising concerns over surge in coronavirus cases in a few states, while imports were up 6.98% to $40.55 billion, the data showed.
Moreover, April-February exports are down 12% at $255.9 billion while imports in the same period is down 23% at $340.88 billion, the data stated.
The value of non-petroleum and non-gems and jewellery exports in February 2021 was USD 22.48 billion as compared to USD 21.28 billion in February 2020, a positive growth of 5.65%, as per data.
Non-oil, non-GJ (gold, silver & Precious metals) imports were up 7.40% in February 2021 to USD 23.85 billion as compared to non-oil and non-GJ imports of USD 22.21 billion in February 2020.
Top 5 commodity groups of export that recorded positive growth during February 2021 vis-à-vis February 2020 are: Other Cereals (542.06%), Oil meals (244.12%), Iron Ore (167.79%), Jute manufacturing including floor covering (45.40%), and Rice(30.10%).
Top 5 commodity groups of import showing a fall in February 2021vis-à-vis February 2020 are: Silver (-91.55%), Newsprint (-80.76%), Fertilisers, Crude & manufactured (-46.01), Coal, Coke & Briquettes, etc. (-28.09%), and Leather & leather products (-26.75).
