India’s merchandise exports rose 25.10 per cent to $34.57 billion in February 2022 as compared to $27.63 billion in February 2021, on account of healthy growth in sectors like engineering, petroleum and chemicals. The trade deficit widened to $20.88 billion in February 2022 from $13.12 billion from the year-ago period.
As per the data released by the Commerce Ministry, merchandise exports for the period April-February 2021-22 was $374.81 billion as against $256.55 billion during the period April-February 2020-21, registering a positive growth of 46.09 per cent. Non-petroleum and non-gems & jewellery exports in February 2022 were $26.75 billion, registering a positive growth of 19.01 per cent over $22.48 billion in February 2021. Non-petroleum and non-gems & jewellery exports during April-February 2021-22 was $283.99 billion, an increase of 33.99 per cent over $211.95 billion in April-February 2020-21
On the other hand, merchandise imports in February 2022 were $55.45 billion, which is an increase of 36.07 per cent over imports of $40.75 billion in February 2021. Merchandise imports for the period April-February 2021-22 was $550.56 billion as against $345.54 billion during the period April-February 2020-21, registering a positive growth of 59.33 per cent. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $31.70 billion in February 2022 with a positive growth of 32.04 per cent over $24.01 billion in February 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $332.94 billion in April-February 2021-22, recording a positive growth of 44.82 per cent, as compared to $229.89 billion in April-February 2020-21.
