India’s Feb merchandise exports rises by 2.91%

New Delhi, March 13 (IANS) India’s merchandise exports rose by 2.91 per cent in February on a year-on-year basis to $27.65 billion from $26.87 billion reported for the corresponding period of the previous year.

Similarly, on a sequential basis, exports were higher than $25.97 billion worth of merchandise which were shipped out in January.

“Non-petroleum and non-gems and jewellery exports in February 2020 were $21.23 billion, as compared to $20 billion in February 2019, exhibiting a positive growth of 6.16 per cent,” the Ministry of Commerce and Industry said in a statement.

“Non-petroleum and non-gems and jewellery exports in April-February 2019-20 were $218.83 billion, as compared to $217.60 billion for the corresponding period in 2018-19, an increase of 0.57 per cent,” it said.

As per the data, imports rose by 2.48 per cent to $37.50 billion in February from $36.59 billion reported for the corresponding month of 2019.

“Oil imports in February 2020 were $10.76 billion, which was 14.26 per cent higher in dollar terms, compared to $9.41 billion in February 2019,” the ministry said.

“Non-oil imports in February 2020 were estimated at $26.74 billion which was 1.60 per cent lower in dollar terms, compared to $27.18 billion in February 2019,” the statement said.

However, non-oil and non-gold imports were $24.38 billion in February 2020, recording a negative growth of 0.87 per cent, as compared to $24.59 billion reported for the corresponding period of the previous year.

–IANS

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