India's Trade Deficit Widens To $18.7 Billion In February
February saw the highest growth achieved in the year in goods and services, the Commerce Secretary Sunil Barthwal said.
India's merchandise trade deficit widened moderately in February as imports outpaced exports at its highest since June 2022.
In absolute terms, the trade gap widened to $18.7 billion in February after narrowing to $17.5 billion in January, according to a press briefing by the Ministry of Commerce and Industry.
Exports rose 11.9% annually to $41.4 billion.
Imports rose 12.2% annually to $60.11 billion.
Exports rose 12% month-on-month from January.
Imports fell 10.5% month-on-month from January.
Current fiscal year trade is set to be the highest ever, topping the last year, said Commerce Secretary Sunil Barthwal in a press briefing on Friday.
"The month of February has surpassed all our expectations, with the highest growth achieved in the year in goods and services," he said. "It gives hope that the Indian economy will end FY24, with exports topping the last year," he said.
