Imports Rose 7% In Feb, Trade Deficit Widened To $12.88 Billion

India's exports marginally declined by 0.25% to $27.67 billion in February while imports grew by 6.98% to $40.55 billion during the month, according to provisional data released by the commerce ministry on Tuesday.

The ministry's statement further said that the trade deficit widened to $12.88 billion in February as compared to $10.16 billion in the year-ago period.

The exports during April-February 2020-21 period stood at $255.92 billion against $291.87 billion in the same period a year ago, showing negative growth of 12.32 per cent.

Imports during the April-February period fell 23% to $340.88 billion.

In February 2021, oil imports declined by 16.63% to $8.99 billion, as compared to $10.78 billion in February 2020. Oil imports in April-February 2020-21 stood at $72.08 billion, as compared to $120.50 billion, showing a decline of 40.18%.

Non-oil imports in February 2021 were estimated at $31.56 billion, as compared to $27.12 billion in February 2020, showing an increase of 16.37%. Non-oil imports in April-February 2020-21 were $268.78 billion, as compared to $322.74 billion, registering a decline of 16.73% during the same period of the last year.

Meanwhile, the value of non-petroleum exports was $25.16 billion in February 2021, registering a positive growth of 3.55% over February 2020.