India's Trade Deficit Narrows In Feb As Exports Rise For The First Time In 7 Months

The country's trade deficit sharply narrowed in February to $9.85 billion from $15.17 billion in the previous month, on account of a rise in exports, as per data released by the Commerce Ministry on Friday.

Trade deficit stood at $9.72 billion in February 2019.

India's exports rose for the first time in seven months in February by 2.91 percent to $27.65 billion. Imports also grew by 2.48 percent to $37.5 billion, leaving a trade deficit of $9.85 billion against $9.72 billion in February 2019.

Oil imports were up by 14.26 percent to $10.76 billion in February compared to $9.41 billion in the same month, a year ago.

Exports during April-February of the current financial year dipped by 1.5 percent to $292.91 billion.

Imports during the period declined by 7.30 percent to $436 billion, amounting for a trade deficit of $143.12 billion.