The country's trade deficit in goods widened to $12.88 billion in February from $10.16 billion during the corresponding period a year earlier, according to preliminary data released by the government on Tuesday, March 2. Merchandise exports declined 0.25 per cent in February from a year earlier to $27.67 billion, while imports were up 6.98 per cent to $40.55 billion. India was a net importer in February 2021 with a trade deficit of $12.88 billion, as compared to $10.16 billion in the corresponding month last year, improving by 26.74 per cent. (Also Read: At 0.14%, Exports Grew Marginally In December, Trade Deficit Rose To $15.44 Billion )
Merchandise exports in February 2021 were $27.67 billion as compared to $27.74 billion in the corresponding month last year, registering a decrease of 0.25 per cent. On the other hand, imports in February were $40.55 billion, as compared to $37.90 billion in the corresponding month last year, registering an increase of 6.98 per cent.
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According to data released by the Ministry of Commerce and Industry, the exports during the period of April-February2020-21 were $ 255.92 billion, as compared to $ 291.87 billion registered in the year-ago period. This exhibits a de-growth of 12.32 per cent. The imports during April-February 2020-21 were $ 340.88 billion, as compared to $ 443.24 billion registered in the year-ago period, showing a de-growth of 23.09 per cent.
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Last month, the value of non-petroleum exports was $25.16 billion, registering a growth of 3.55 per cent over the corresponding month last year. The value of non-petroleum and non-gems and jewellery exports in February 2021 was $22.48 billion as compared to $ 21.28 billion in the corresponding month last year, registering a growth of 5.65 per cent.
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