Exports rise 22% to $33.8 bn in Feb; trade deficit widens to $21.19 bn

India's exports rose by 22.36 per cent to $33.81 billion in February on account of healthy growth in sectors like engineering, petroleum and chemicals, even as the trade deficit widened to $21.19 bn

India's exports rose by 22.36 per cent to USD 33.81 billion in February on account of healthy growth in sectors like engineering, petroleum and chemicals, even as the trade deficit widened to USD 21.19 billion, according to preliminary data released by the commerce ministry on Wednesday.

Imports during the month too jumped by about 35 per cent to USD 55 billion.

The trade deficit, the difference between imports and exports, stood at USD 13.12 billion in February 2021.

"India's merchandise export in April 2021-February 2022 was USD 374.05 billion, an increase of 45.80 per cent over USD 256.55 billion in April 2020-February 2021," it said.

Imports during the 11-month period rose by 59.21 per cent to USD 550.12 billion.

Trade deficit during this period widened to USD 176.07 billion as against USD 88.99 billion during April-February 2020-21.