look news india
India's exports increased by 11.9 percent to $41.4 billion in February, the highest monthly export in the current financial year. The country's exports have seen an increase in February due to increase in exports of engineering goods, electronic items and pharma products.
Whereas in February, imports increased by 12.16 percent to 60.11 billion dollars. The country's imports have increased in February due to increase in gold imports. Along with this, the trade deficit in February was 18.7 billion dollars.
Trade deficit in February 2023 was $16.57 billion. The country's imports in February 2023 stood at $53.58 billion.
According to the data released by the Commerce Ministry, gold import increased by 133.82 percent to $ 6.15 billion in February. The total import of gold during April to February was $44 billion. Which is 38.76 percent more than the same period last year.
Talking to reporters, Commerce Secretary Sunil Barthwal said that despite many difficulties including Russia-Ukraine war, recession in some countries, the country's export figures in February have been encouraging.
He further said that if we look at the figures of the last 11 months of the current financial year, the country's export figures in February are the highest in the last 11 months.
Exports of engineering goods increased by 15.9 percent to $9.94 billion in February, which was $8.58 billion in February 2023. Exports of electronic goods increased by 54.81 percent to $3 billion from $1.94 billion in the same period last year.