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February exports up 25.1%, yet trade deficit widens
Buoyed by shipments of engineering, petroleum, electronics and chemicals, India's goods exports rose 25.1% year on year to $34.57 billion in February even as the trade deficit widened to $20.88 billion from $13.12 billion in the year-ago period.
Data released by the commerce and industry ministry on Monday showed that imports during the month jumped 36% to $55.45 billion, with inbound shipments of petroleum and crude oil surging 69% to $15.28 billion.
"Monthly merchandise exports crossing the $30-billion mark for 11th consecutive month and touching almost $375 billion during the fiscal till now go to show we are on course to cross the $400-billion exports target for the fiscal," said A Sakthivel, president of Federation of Indian Export Organisations.
Gold imports in February fell 9.65 % to $4.8 billion while imports of electronic goods rose 29.53% to $6.27 billion. Exports of engineering goods, petroleum and chemicals rose 32%, 88.14% and 25.38% to $9.32 billion, $4.64 billion and $2.4 billion
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