India's exports shrink for first time in 8 months; trade deficit narrows

Mar 11 2014, 17:11 IST
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India's exports declined 3.67 per cent to USD 25.68 billion in February. (AP) India's exports declined 3.67 per cent to USD 25.68 billion in February. (AP)
SummaryAfter recording positive growth for 7 consecutive months, exports contracted 3.67 per cent.

4.18 per cent to USD 3.59 billion in February.

There was an increase in exports of marine products (63.3 per cent), iron ore (31.92 per cent), man-made yarn (19.57 per cent) and ready-made garments (15.54 per cent) last month.

India's Feb trade deficit narrows to $8.1 bn: trade ministry

(Reuters) - India's trade deficit narrowed in February on a sharp fall in imports, which would further ease pressure on the country's current account balance.

The trade deficit stood at $8.13 billion, more than 40 percent lower from a year ago, the data released by the trade ministry showed on Tuesday.

Imports continued to fall, driven by a decline in oil import bill and curbs on gold, the country's second-most expensive overseas purchase after oil.

Merchandise exports fell 3.67 percent from a year earlier to $25.69 billion, compared with 3.8 percent growth in January.

Imports fell 17.09 percent year-on-year to $33.82 billion, the data showed.a

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