India's Trade Deficit Decreases to $27 Billion in February

India's Merchandise Trade Deficit Narrows in February

Key Highlights:

• The merchandise trade deficit in India narrowed to $27.1 billion in February, down from $34.68 billion in January.
• Goods exports rose marginally to $36.61 billion, up from $36.56 billion in January.
• Imports fell to $63.71 billion, down from $71.24 billion during the same period.

Trade Deficit Comparison

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On a year-on-year basis, the trade gap in goods in February was significantly wider, standing at $22.69 billion, compared to $14.42 billion in the same month last year.

Trade Performance

The marginal increase in goods exports and decline in imports contributed to the narrowing of the merchandise trade deficit in February. However, the trade gap remains a concern, indicating a need for sustained efforts to boost exports and manage imports.