India’s commerce deficit widened to USD 18.71 billion in February this 12 months, after hitting a nine-month low within the month earlier than, authorities stated on Friday.
Economists had pegged India’s February commerce deficit at USD 18.30 billion, as per a Reuters ballot.
India’s commerce deficit in January 2024 stood at USD 17.5 billion whereas in February 2023, it was USD 16.6 billion. A narrowing commerce deficit tends to assist restrict India’s present account deficit and strengthen the Rupee, which has been main amongst Asian currencies by way of efficiency this 12 months.
Merchandise imports in February rose 12.2% on a year-on-year foundation to USD 60.11 billion. In January, imports stood at USD 54.4 billion. Exports elevated by 11.9% on an annual foundation to USD 41.4 billion. In January, exports stood at USD 36.9 billion.
In February, companies exports have been USD 32.35 billion, whereas imports have been USD 15.39 billion. In January, companies exports have been USD 32.80 billion and imports have been USD 16.05 billion.
