Trade Deficit Narrows To 13-Month Low In February As Exports And Imports Fall

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.