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India’s merchandise exports rise 11.9% in February
Mar-18-2024

The commerce ministry in its latest data has said India recorded the highest monthly exports during the fiscal in February 2024, registering an 11.9 per cent growth to $41.4 billion as compared to $37.01 billion in February 2023, mainly driven by increased shipments of engineering goods, electronic items and pharma products. Merchandise imports were valued at $60.11 billion in February 2024, up 12.16 per cent compared to $53.58 per cent in February 2023. The trade deficit during February worked out to $18.7 billion, up from $16.57 billion in the year-ago month, as gold imports surged significantly. 

According to the data, merchandise exports for the period April-February 2023-24 were $394.99 billion as against $409.11 billion during April-February 2022-23. Merchandise imports for the period April-February 2023-24 were $620.19 billion as against $655.05 billion during April-February 2022-23. The merchandise trade deficit for April-February 2023-24 was estimated at $225.20 billion as against $245.94 billion during April-February 2022-23.

It further stated that non-petroleum and non-gems & jewellery exports in February 2024 were $29.97 billion, compared to $25.57 billion in February 2023. Non-petroleum and non-gems & jewellery exports during April-February 2023-24 was $286.51 billion, as compared to $284.78 billion in April-February 2022-23. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in February 2024 were $33.15 billion, compared to $31.52 billion in February 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $387.60 billion in April-February 2023-24 as compared to $399.03 billion in April-February 2022-23.

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