The country’s exports grew by 25.1 per cent to $34.57 billion in February, driven by better performance in sectors such as engineering, petroleum and chemicals. However, the trade deficit widened to $20.88 billion during the month, according to data released by the commerce ministry on Monday.
In the month under review, imports increased by 36 per cent to $55.45 billion, of which petroleum and crude oil imports increased by 69 per cent to $15.28 billion. The trade deficit stood at $13.12 billion in February 2021.
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According to the ministry, overall exports have grown by 46.09 per cent to $374.81 billion during the April-February period of the current financial year 2021-22. It was $ 256.55 billion in the same period a year ago. Imports grew 59.33 percent to $ 550.56 billion in the period under review. At the same time, the trade deficit stood at $ 175.75 billion from $ 88.99 billion in the same period a year ago.