India's trade deficit narrowed its lowest in 13 months in February even as exports fell faster than imports.

The trade deficit stood at $17.43 billion in February lowest in 13-months, against $17.75 billion in January, according to data shared by the Ministry of Commerce and Industry at a media briefing.

• Exports contracted 8.8% to $33.88 billion on a year-on-year basis.

• Imports moderated 8.2%% to $51.31 billion.

• On a sequential basis, exports contracted 2.8% in February, while imports contracted 1.20%.

In absolute terms, exports fell to $63.03 billion in February compared with $65.15 billion in January 2023.

Imports declined to $65.86 billion against $66.42 billion in January.