India’s merchandise exports, imports rise in Feb

New Delhi, March 15 (SocialNews.XYZ) India's February merchandise exports as well as imports rose in February, indicating a gradual pick-up in economic activity, official data showed on Monday.

The country's merchandise exports during the month under review rose to $27.93 billion from $27.45 billion in January and $27.74 billion in February 2020.

"Exports in February 2021 were $27.93 billion, as compared to $27.74 billion in February 2020, exhibiting a positive growth of 0.67 per cent," a Ministry of Commerce and Industry statement said.

"Non-petroleum and non-gems and jewellery exports in February 2021 were $22.52 billion, as compared to $21.28 billion in February 2020, registering a positive growth of 5.84 per cent."

In terms of imports, India's inbound shipments in February 2021 increased by 6.96 per cent to $40.54 billion from $37.90 billion during the corresponding period of 2020.

On sequential basis, they stood lower than January's import bill of $41.99 billion.

"Cumulative value of imports for the period April-February 2020-21 was USD 340.80 billion, as against USD 443.24 billion during the period April-February 2019-20, registering a negative growth of (-) 23.11 per cent in dollar terms."

Last month, oil imports were $8.99 billion, as compared to $10.78 billion in February 2020, a decline of 16.63 per cent.

"Non-oil and non-gold imports were USD 26.27 billion in February 2021, recording a positive growth of 6.07 per cent, as compared to non-oil and non-gold imports of USD 24.76 billion in February 2020."

Consequently, trade deficit stood at $12.62 billion in February 2021.

The deficit increased by 24.14 per cent on a year-on-year basis from $10.16 billion reported for February 2020.

India's trade deficit had stood at $14.54 billion in January 2021.

Source: IANS