Exports register 2.9% growth in Feb, recover after 6 months of contraction

Non-petroleum non-jewellery exports were up 6.16 per cent at $21.23 billion in the month. Imports also broke the nine-month trend of fall and clocked a 2.48 per cent rise to $37.5 billion in February.

Exports bucked the six-month declining spree by registering modest 2.91 per cent growth in February at $27.65 billion, even as there were fears of the coronavirus effect on outbound shipments.
 
All the major foreign exchange earners such as petroleum products, engineering goods, and electronic items registered expansion in the month year-on-year. However, gems and jewellery exports saw a whopping 20 per cent decline.
 
Economists warned that exports might again contract in March due to the effects of coronavirus. “...the impact of coronavirus on supply chains may well result in a contraction in exports in the ongoing month,” said