India’s exports dipped in February for the third consecutive month by 8.8% to $33.88 billion against $37.15 billion in the same month last year, according to the data by commerce ministry
New Delhi, NFAPost: India’s exports dipped in February for the third consecutive month by 8.8 per cent to $33.88 billion against $37.15 billion in the same month last year, according to the data released by the commerce ministry.
Imports also declined by 8.21% to $51.31 billion as against $55.9 billion recorded in the corresponding month last year.
Outbound shipments’ value dropped for as many as 16 of India’s top 30 export items in February, with 14 of them recording close to or higher than double digit declines. This included a 9.7% dip in engineering exports, which have been a bulwark of India’s exports in recent years.
The country’s trade deficit in February stood at $17.43 billion. During April-February this fiscal, however, the country’s overall merchandise exports rose by 7.5% to $405.94 billion.
Imports during the period increased by 18.82% to $653.47 billion.
