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Informist, Monday, Mar. 17, 2025

 

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--India Feb merchandise exports $36.91 bln vs $41.41 bln year ago
--India Feb merchandise imports $50.96 bln vs $60.92 bln year ago
--India Feb merchandise trade deficit $14.05 bln vs vs $19.51 bln year ago
--Govt: India Feb services trade exports $35.03 bln vs $28.33 bln year ago
--Govt: India Feb services trade imports $16.55 bln vs $15.23 bln year ago
--Govt: India Feb services trade surplus $18.48 bln vs $13.10 bln year ago
--India Apr-Feb merchandise exports $395.63 bln vs $395.38 bln year ago
--India Apr-Feb merchandise imports $656.68 bln vs $621.19 bln year ago
--India Apr-Feb merchandise trade deficit $261.05 bln vs $225.81 bln yr ago
--India Apr-Feb non-oil imports $489.96 bln vs $458.80 bln year ago
--India Apr-Feb non-oil exports $337.01 bln vs $316.64 bln year ago
--India Apr-Feb oil imports $166.73 bln vs $162.39 bln year ago
--India Apr-Feb gold imports $53.53 bln vs $44.01 bln year ago
--India Apr-Feb electronic goods imports $89.30 bln vs $80.32 bln year ago
--India Apr-Feb petroleum product exports $58.62 bln vs $78.74 bln year ago
--India Apr-Feb engineering goods exports $105.85 bln vs $98.03 bln year ago
--India Apr-Feb imports from Russia $58.30 bln vs $55.58 bln year ago
--Govt: India Feb gold imports $2.3 bln

 

NEW DELHI – India's merchandise trade deficit fell to a 42-month low in February because of a sharp decline in goods imports while exports continued to lag the year-ago levels. The trade deficit narrowed to $14.05 billion last month, down 28.0% on year, data released by the commerce ministry on Monday showed. Goods trade deficit was $23.00 billion in January.

 

Merchandise exports fell 10.9% on year to $36.91 billion in February, while imports slumped to a 22-month low of $50.96 billion, down 16.3% on year. In January, goods exports had fallen 2.4% on year to $36.43 billion and imports had risen 10.3% on year to $59.42 billion, according to commerce ministry data. 

 

India's merchandise trade deficit in Apr-Feb rose 15.6% on year to $261.05 billion. Goods exports in Apr-Feb were largely unchanged from a year ago at $395.63 billion, while imports increased 5.7% to $656.68 billion.

 

While the goods trade deficit narrowed, the services tade surplus widened in February from a year ago. The services trade suruplus rose to $18.48 billion in February from $13.1 billion a year ago. Services exports surged 23.6% on year to $35.03 billion while imports were up 8.7% at $16.55 billion.

 

India imported crude oil worth $166.73 billion in Apr-Feb, higher than $162.39 billion imported a year ago. In February, however, crude oil imports fell 29.6% to $11.89 billion.

 

The 22-month low imports for February is attributable to lower inbound shipment of crude oil and gold during the month, according to the commerce ministry. Gold imports in February declined 62% to $2.34 billion. For the cumulative 11-month period, gold imports were $53.53 billion, against $44.01 billion a year ago.

 

In line with fall in gold imports, gem & jewellery exports fell 20.7% to 2.53 billion in February. The exports of the commodity were also down 10.5% at $26.92 billion for Apr-Feb. 

 

India exported petroleum products worth $58.62 billion in Apr-Feb, lower than $78.74 billion a year ago. The products' exports in February were also down 29.2%. Non-oil imports rose to $489.96 billion in Apr-Feb from $458.80 billion a year ago. In February, India's non-oil imports fell to $39.07 billion from $44.03 billion a year ago. Non-oil exports, which rose to $337.01 billion in Apr-Feb from $316.64 billion a year ago, were down 6.3% in February.

 

Imports of electronic goods, the biggest non-oil import category, jumped 9.1% to $7.57 billion in February. For Apr-Feb, electronic goods imports rose were $89.30 billion, higher than $80.32 billion a year ago. India exported electronic goods worth $3.79 billion in February, up 26.5% on year. Their exports were $34.02 billion in Apr-Feb. 

 

Engineering goods exports rose to $105.85 billion in the eleven months ended February from $98.03 billion a year ago. But in February, engineering goods exports fell 8.6% to $9.08 billion.

 

China remained India's biggest import source nation in Apr-Feb, followed by Russia. India imported $103.78 billion worth of goods from China in Apr-Feb and $58.30 billion from Russia. But for February, India's goods imports from Russia were down 19.1%. This was the second consecutive month that Russian imports fell after 15.7?cline in January.

 

The following tables detail trade data for February and Apr-Feb, in billion dollars, and the percentage changes:

 

	February 2025	February 2024	Year-on-year change
Exports	36.91	41.41	(-)10.9%
Engineering goods	9.08	9.94	(-)8.6%
Gems and jewellery	2.53	3.20	(-)20.7%
Petroleum products	5.81	8.22	(-)29.2%
Imports	50.96	60.92	(-)16.3%
Crude oil	11.89	16.89	(-)29.6%
Electronic goods	7.57	6.94	9.1%
Gold	2.34	6.15	(-)62.0%
Trade deficit	14.05	19.51	(-)28.0%

 

	Apr-Feb 2024-25	Apr-Feb 2023-24	Year-on-year change
Exports	395.63	395.38	0.1%
Imports	656.68	621.19	5.7%
Crude oil imports	166.73	162.39	2.7%
Gold imports	53.53	44.01	21.6%
Trade deficit	261.05	225.81	15.6%

 

End

 

US$1 = INR 86.80

 

Reported by Shubham Rana and Krity Ambey

Edited by Akul Nishant Akhoury

 

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