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India's exports, imports shrink over 8% in February, shows govt data

Imports hit 18-month low as non-essentials curbed

Photo: Bloomberg
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Photo: Bloomberg

Asit Ranjan Mishra New Delhi
India’s merchandise imports fell to an 18-month low in February, contracting for the third consecutive month as the government ramped up efforts to curb non-essential imports, even as exports shrank for a third time in five months amid slowing global demand.

Merchandise exports contracted 8.8 per cent to $33.88 billion in February, while imports fell 8.2 per cent to $51.31 billion, leading to a trade deficit of $17.43 billion, showed the data released by the commerce department on Wednesday.

Commerce Secretary Sunil Barthwal said the government had been able to contain imports in February. “It is not simply statistical. There were several

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First Published: Mar 15 2023 | 9:52 PM IST

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