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Exports, imports decline in February
Wednesday, 01 April 2009, 23:14 IST
New Delhi: India's merchandise exports dipped 21.7 percent in February to 
58,685 crore ($11.91 billion), as compared to 60,476 crore ($15.22 billion) in the corresponding month last year, according to government data released Wednesday.
Exports figures have been contracting since last October, forcing the commerce ministry to revise the target for 2008-09 to $175 billion from $200 billion following fall in overseas demand.
February's imports also contracted 23.3 percent to $16.82 billion, as against $21.93 billion earned the same month last year, the government said.
Trade deficit this February stood at $4.91 billion, 26.83 percent lower than $6.71 billion in the corresponding month last year.
Oil imports during the month fell 47.5 percent to $4 billion, as compared to $7.71 billion in 2008 February, while non-oil imports, which includes capital goods as well as raw material contracted around 10 percent to $12.77 billion.
Between April and February in 2008-09, exports grew 7.3 percent to $156.6 billion. Imports expanded 19.1 percent in this period to $271.68 billion, as against $228.08 billion in the corresponding period the previous year.
Source: IANS
58,685 crore ($11.91 billion), as compared to 60,476 crore ($15.22 billion) in the corresponding month last year, according to government data released Wednesday.
Exports figures have been contracting since last October, forcing the commerce ministry to revise the target for 2008-09 to $175 billion from $200 billion following fall in overseas demand.
February's imports also contracted 23.3 percent to $16.82 billion, as against $21.93 billion earned the same month last year, the government said.
Trade deficit this February stood at $4.91 billion, 26.83 percent lower than $6.71 billion in the corresponding month last year.
Oil imports during the month fell 47.5 percent to $4 billion, as compared to $7.71 billion in 2008 February, while non-oil imports, which includes capital goods as well as raw material contracted around 10 percent to $12.77 billion.
Between April and February in 2008-09, exports grew 7.3 percent to $156.6 billion. Imports expanded 19.1 percent in this period to $271.68 billion, as against $228.08 billion in the corresponding period the previous year.
Source: IANS