India's exports marginally declined 0.25 percent while imports grew by 6.98 percent in February
Published On: Tuesday, March 2, 2021 | By: Team KnowMyStock
India's exports marginally declined 0.25 percent to $27.67 billion in February while imports grew by 6.98 percent to $40.55 billion during the month, according to provisional data released by the commerce ministry today(2nd March 2021). The trade deficit widened to $12.88 billion in February as compared to $10.16 billion in the year-ago period, the ministry said in a statement. The exports during April-February 2020-21 period stood at $255.92 billion. In the same period a year ago, it was at $291.87 billion, showing negative growth of 12.32 percent. Imports during the April-February period too dipped 23 percent to $340.88 billion. In February 2021, Oil imports were $8.99 billion, as compared to $10.78 billion in February 2020, a decline of 16.63 percent. Oil imports in April-February 2020-21 stood at $72.08 billion, as compared to $120.50 billion, showing a decline of 40.18 per cent.
Non-oil imports in February 2021 were estimated at $31.56 billion, as compared to $27.12 billion in February 2020, showing anincrease of 16.37 per cent. Non-oil imports in April-February 2020-21 were $268.78 billion, as compared to $322.74billion, registering a decline of 16.73 per cent during the same period of the last year.
In February 2021, the value of non-petroleum exports was $25.16 billion, registering a positive growth of 3.55 per cent over February 2020. 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 February 2020, registering a positive growth of 5.65 per cent.
Major commodities of export which recorded positive growth in February include oil meals, iron ore, rice, meat, dairy and poultry products, carpet, spices, pharmaceuticals and chemicals.
Tags: Indian exports trade deficit
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