According to official statistics issued on Wednesday, India’s exports contracted for the third consecutive month in February due to a slowdown in global demand, falling by 8.8% to USD 33.88 billion, even as the trade deficit decreased to almost a year low of USD 17.43 billion.
Moreover, imports decreased by 8.21% to USD 51.31 billion from USD 55.9 billion in the same month last year.
Yet, when looking at the entire fiscal year from April to February, the country’s merchandise exports increased by 7.5% to USD 405.94 billion. Over the time, imports rose by 18.82% to USD 653.47 billion.
Exports fall for the third consecutive month in February, and the trade deficit decreases to USD 17.43 billion
