Monday, March 20, 2023

India’s February exports rise despite global weakness – Usky News

New Delhi: Goods and Services of India export Helped by petroleum, electronics and pharmaceutical products grew in February despite global headwinds, according to data released by the government on Wednesday.
merchandise trade of india The deficit in February was $17.43 billion, the lowest in a year. That was lower than the $17.75 billion reported last month, as well as the $19 billion forecast in a Reuters poll.
february export goods Imports increased to $33.88 billion from $32.91 billion in January, while imports rose to $51.31 billion from $50.66 billion.
India’s Satya Srinivas, additional secretary in the trade ministry, said export growth was driven by petroleum products, electronic goods, chemicals and pharmaceutical products.
The data showed that India’s April-February merchandise exports grew 7.55% year-on-year to $405.94 billion, while merchandise imports rose 18.82% to $653.47 billion during the same period.
According to the government’s preliminary estimates, the country’s services exports stood at $29.15 billion in February, while services imports during the month stood at $14.55 billion. Services exports in January stood at $28.04 billion, while imports stood at $14.23 billion.
India’s goods and services exports grew by over 16% to $702.88 billion in the April-February period, while imports grew by 20% to $817.46 billion during the period.


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