The government has provided data for the month of February on Exports, Trade Deficit, and other statements on India’s Merchandise Trade.
Ministry of Commerce and Industry released data on Monday that showed India’s exports rose 25.1 percent to USD 34.57 billion in February on account of healthy growth in sectors like engineering, petroleum, and chemicals. The data further showed that the trade deficit widened to USD 20.88 billion.
As per the data, Imports during the month jumped 36 percent to USD 55.45 billion, with inbound shipments of petroleum and crude oil surging 69 percent to USD 15.28 billion. The trade deficit stood at USD 13.12 billion in February 2021.
“Merchandise exports for the period April-February 2021-22 was USD 374.81 billion as against USD 256.55 billion during the period April-February 2020-21, registering a positive growth of 46.09 percent,” the ministry said.
As per a press release dated 4th March 2022, the Ministry notified the preliminary data for February 2022 wherein it was stated that India’s merchandise export in February 2022 was USD 33.81 Billion, which marked an increase of 22.36% from February 2021.
As per the preliminary data, the trade deficit in February 2022 was USD 21.19 billion, while it was 176.07 billion USD during April 2021-February 2022.
Data by the Ministry further provided that the cumulative value of non-petroleum and non-gems and jewellery exports in April 2021-February 2022 was USD 283.83 billion, an increase of 33.92% over the cumulative value of non-petroleum and non-gems and jewellery exports of USD 211.95 billion in April 2020-February 2021 and an increase of 29.47% over the cumulative value of non-petroleum and non-gems and jewellery exports of USD 219.22 billion in April 2019-February 2020.