Exports jump 17.5% to $24.5 bn in February

Feb trade deficit narrows to $8.9 bn as against $9.84 bn in Jan

Rising for the sixth straight month, exports posted a 17.48 per cent year-on-year hike in February, the highest rate in more than five years. 

A low base effect and increasing crude oil prices boosted the export of engineering goods and petroleum products, respectively, which in turn aided the growth in exports. The previous high was 36.3 per cent, in September 2011.

Exports touched $24.49 billion in February; it was $20.84 billion in the same month last year, according to data issued by the commerce and industry ministry on Wednesday. 

The huge year-on-year jump is, however, a bit of a statistical illusion. Export growth