New Delhi: Merchandise exports from India contracted 10.9 per cent to $36.91 billion in February. Merchandise imports also dipped 16.3 per cent to $50.96 billion in last month. The trade deficit dipped to $14 billion during the month. Trade deficit is the difference between imports and exports.
India’s merchandise trade deficit in February was much lower than expected due to a lower imports. Merchandise trade deficit for February was $14.05 billion, compared with economists’ forecast of $21.65 billion.
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Merchandise exports stood at $36.91 billion in February against $36.43 billion in January, while imports were lower at $50.96 billion compared with $59.42 billion in the month prior.
Services exports in February were estimated at $35.03 billion and imports at $16.55 billion against $38.55 billion and $18.22 billion, respectively, in January.
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