India's exports increased to $ 34.5 billion in January, know how much was the trade deficit

Exports grew 22.36 percent in February, trade deficit also reached $ 21.19 billion

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new Delhi . The country’s exports grew by 22.36 per cent to $33.81 billion in February due to better performance in sectors like engineering, petroleum and chemicals. However, during this period the trade deficit also increased to $ 21.19 billion. According to the preliminary data released by the commerce ministry on Wednesday, imports jumped nearly 35 percent to $55 billion in the month under review.

The trade deficit, which explains the difference between imports and exports, stood at $ 13.12 billion in February 2021. According to the ministry, “The country’s commodity exports grew by 45.80 percent to $374.05 billion during April-February in the current financial year 2021-22. Earlier it was $ 256.55 billion in the same period of the financial year 2020-21.

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In the 11 months (April-February) of the current financial year, imports increased by 59.21 percent to $ 550.12 billion. During this, the trade deficit increased to $ 176.07 billion from $ 88.99 billion during April-February in the financial year 2020-21.

Finance Minister expressed concern about exports

The ongoing war between Russia and Ukraine is dragging on. No relief has been seen even on the fifth day of the war. Therefore, the concerns of India are also increasing. Meanwhile, Finance Minister Nirmala Sitharaman spoke at a press conference on Monday on the issues of trade being affected by the war. The Finance Minister expressed concern over the impact on trade relations with Ukraine.

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He said that as far as the impact on our immediate imports and exports to Ukraine is concerned, we are concerned about what comes from there to India. But I am more concerned about what will happen to our exporters, especially the farming sector of Russia and Ukraine.

look at the whole matter

Nirmala Sitharaman said that so I will have a comprehensive on both these issues…we are already looking at the state of emergency, but I will have to do a full evaluation through various concerned ministries and only then can comment on that. He further said that but you can be assured that we have understood this matter very well because it is going to have an impact on the essential things to come.

Tags: export, Import-Export, Indian export, Manufacturing and exports

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