India’s exports jump by 22.36% to USD 33.81 Bn in February

India's exports jump by 22.36% to USD 33.81 Bn in February

New Delhi: India’s merchandise exports rose by 22.36 per cent to USD 33.81 billion in February 2022 from USD 27.63 billion recorded in the same month last year led by strong growth in sectors like engineering, petroleum and chemicals, the government data showed on Wednesday.

India’s merchandise import in February 2022 surged to USD 55.01 billion, an increase of 34.99 per cent over USD 40.75 billion in February 2021 and an increase of 45.12 per cent over USD 37.90 billion in February 2020. The sharper increase in imports led to the widening of the trade deficit. The trade deficit in February 2022 jumped to USD 21.19 billion from USD 13.12 billion recorded in February 2021.

India’s merchandise export in April 2021-February 2022 was rose to USD 374.05 billion, an increase of 45.80 per cent over USD 256.55 billion in April 2020-February 2021 and an increase of 28.16 per cent over USD 291.87 billion in April 2019-February 2020, according to data released by the Ministry of Commerce and Industry.

India’s merchandise import in April 2021-February 2022 stood at USD 550.12 billion, an increase of 59.21 per cent over USD 345.54 billion in April 2020-February 2021 and an increase of 24.11 per cent over USD 443.24 billion in April 2019-February 2020.

The trade deficit widened to USD 176.07 billion during April 2021-February 2022.

The value of non-petroleum exports in February 2022 was USD 29.70 billion, registering a positive growth of 18.04 per cent over non-petroleum exports of USD 25.16 billion in February 2021 and positive growth of 22.23 per cent over non-petroleum exports of USD 24.30 billion in February 2020.

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The value of non-petroleum imports was USD 39.96 billion in February 2022 with a positive growth of 26 per cent over non-petroleum imports of USD 31.72 billion in February 2021 and a positive growth of 47.33 per cent over non-petroleum imports of USD 27.12 billion in February 2020. The cumulative value of non-petroleum exports in April 2021-February 2022 was USD 319.09 billion, an increase of 36.16 per cent over USD 234.36 billion in April 2020-February 2021 and an increase of 26.07 per cent over USD 253.10 billion in April 2019-February 2020.

The cumulative value of non-petroleum imports in April 2021-Feb 2022 was USD 408.63 billion, showing an increase of 49.61 per cent compared to non-oil imports of USD 273.12 billion in April 2020-Feb 2021 and an increase of 26.61 per cent compared to non-oil imports of USD 322.74 billion in April 2019-Feb 2020.

The value of non-petroleum and non-gems and jewellery exports in February 2022 was USD 26.60 billion, registering a positive growth of 18.31 per cent over non-petroleum and non-gems and jewellery exports of USD 22.48 billion in February 2021 and positive growth of 24.98 per cent over non-petroleum and non-gems and jewellery exports of USD 21.28 billion in February 2020. (ANI)

first published:March 3, 2022, 2:04 a.m.

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