Exports increase 11.9% to $41.4 bn in February

New Delhi, March 15

India recorded the highest monthly exports during the fiscal in February, registering an 11.9 per cent growth to $41.4 billion, mainly driven by increased shipments of engineering goods, electronic items and pharma products.

The trade deficit during February worked out to $18.7 billion, up from $16.57 billion in the year-ago month, as gold imports surged significantly.

Merchandise imports were valued at $60.11 billion, up 12.16 per cent compared to $53.58 per cent in February 2023. Gold imports rose 133.82 per cent to $6.15 billion during February from $2.63 billion in the year-ago period, according to the commerce ministry data.

Commerce Secretary Sunil Barthwal said that despite several difficulties, like the ongoing Russia-Ukraine war and recession in certain countries, the February exports surpassed all expectations. — PTI

Forex kitty expands $10.47 bn to $636 bn

India’s forex kitty jumped by $10.47 billion to $636.095 billion for the week ended March 8, the RBI said on Friday. In the previous week, the overall reserves had risen by $6.55 billion to $625.626 billion.

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