New Delhi: India's exports rose for the first time in seven months in February, growing by 2.91% to $27.65 billion (about Rs 1.97 lakh crore) on account of growth in shipments of sectors such as petroleum, engineering and chemicals.
Trade deficit marginally widened to $9.85 billion as against $9.72 billion in February 2019. The deficit during the month under review was lowest in twelve months. The previous low was in February last year.
According to data released by Commerce Ministry on Friday, imports rose for the first time in ninth months in February, growing 2.48% to $37.5 billion (about Rs 2.68 lakh crore). Imports have been recording negative growth since June last year.
Gold imports shrunk 8.5% to $2.36 billion in February this year. “Exports of electronic goods and chemicals grow at 37% and 16% respectively," Commerce and Industry Minister Piyush Goyal said in a tweet.