Exports jump 17% to $24.5 bn in February; trade deficit widens

Exports jump 17% to $24.5 bn in February; trade deficit widens

PTIUpdated: Thursday, May 30, 2019, 08:23 AM IST
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New Delhi: Recording positive growth for six months in a row, India’s exports soared 17.48 per cent to USD 24.5 billion in February led by petroleum, engineering and chemicals.

The trade deficit widened as well to USD 8.89 billion as imports expanded. “In continuation with the revival exhibited by exports since September 2016, exports during February for the first time exhibited a double digit positive growth,” the commerce ministry said in a statement. Imports were up 21.76 per cent to $ 33.38 billion, leaving a trade deficit of $ 8.89 billion as against $ 6.57 billion in February last year, reports PTI. During the April-February period of the current fiscal, exports have grow by 2.52 per cent to $ 245.4 billion. Imports however dipped 3.67 per cent to $ 340.7 billion.

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