India’s Feb YoY merchandise exports slips but trade deficit widens (Roundup)

New Delhi, March 2 : India’s February merchandise exports slipped by 0.25 per cent on a year-on-year basis, preliminary data showed on Tuesday.
Accordingly, the country’s merchandise exports during the month under review grew to $27.67 billion from $27.74 billion in January 2020.
As per the data, during last month, the value of non-petroleum exports rose by 3.55 per cent over February 2020 to $25.16 billion.
“The value of non-petroleum and non-gems and jewellery exports in February 2021 was USD 22.48 billion as compared to USD 21.28 billion in February 2020, registering a positive growth of 5.65 per cent,” a Ministry of Commerce and Industry statement said on the basis of preliminary data.
“In February 2021, Oil imports were USD 8.99 billion, as compared to the USD 10.78 billion in February 2020, a decline by 16.63 per cent.” In contrast, imports increased by 6.98 per cent to $40.55 billion from $37.90 billion reported for February 2020