Merchandise exports rose 2.44 per cent to $26.67 billion in February from $26.03 per cent in the year-ago month mainly driven by higher shipments in sectors such as pharmaceutical, engineering and electronics.

Exports in February 2019 were US $ 26.67Billion, as compared to US $ 26.03Billion in February 2018, exhibiting a positive growth of 2.44 per cent. In Rupee terms, exports were Rs. 1,89,931.49Crore in February 2019, as compared to Rs. 1,67,583.64 Crore in February 2018, registering a positive growth of 13.34 per cent, said an official release on Friday.

Overall exports (Merchandise and Services combined) in April-February 2018-19* are estimated to be USD 483.98Billion, exhibiting a positive growth of 8.73per cent over the same period last year. Overall imports in April-February2018-19* are estimated to be USD 577.31Billion, exhibiting a positive growth of 9.42per cent over the same period last year, it added.

Imports declined by 5.4 per cent to $36.26 billion in the last month, narrowing the trade deficit to $9.6 billion.

The gap between imports and exports was $12.3 billion in February 2018, and $14.73 billion in January 2019.

As per the data, the decline in imports was mainly on account of sharp decline in inward shipments of gold and petroleum products.

Published On : 15-03-2019

Source : SME Times