India's exports rise 25% YoY in February; trade deficit at $20.8 billion

Outbound shipments grew by a fourth year-on-year (YoY) with India exporting goods worth $34.57 billion in February, led by higher demand for petroleum products and engineering goods, the final trade data released by the commerce and industry ministry showed.

However, the trade deficit widened to $20.88 billion, after hitting a five-month low in January as the value of imported goods rose mainly due to the ongoing conflict between Russia-Ukraine and a rise in commodity prices.

Trade deficit was $15.1 billion in February last year and at $17.42 billion a month ago.

Imports, on the other hand, witnessed a 35 per cent jump YoY