Exports increase 2.9% in Feb, but outlook grim on coronavirus scare

Exports increase 2.9% in Feb, but outlook grim on coronavirus scare

After six consecutive months of fall, India’s product exports rose in February by 2.91 percent year-on-year to $27.65 billion backed by sectors such as energy, engineering products, electronics, chemicals, and pharmaceuticals.

Imports during the month rose from $9.72 billion in the same month last year, according to statistics released by the Ministry of Commerce and Industry on Friday, by 2.48 percent to $37.50 billion which contributed to a rise in the trade deficit slightly to $9.85 billion.

Notwithstanding the overall rise, the month-long fall in exports from major sectors including gems & jewelry, ready-made garments, leather, and most agricultural items, including meat and rice.

 

 

src: thehindubusinessline

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