Exports Contract To $36.91 Bn In Feb

New Delhi: India’s exports declined for the fourth month in a row in February to $36.91 billion due to volatility in petroleum prices and global uncertainties. The country’s exports stood at $41.41 billion in the same month a year ago. However, trade deficit in February narrowed to $14.05 billion as the country’s imports reduced to $50.96 billion in February, according to commerce ministry data.

Cumulatively, during the April-February period this fiscal year, merchandise and services exports rose 6.24 per cent to $750.53 billion as against $706.43 billion in the year-ago period. India’s merchandise shipments witnessed a decline in value terms in the four months between November and February. Merchandise exports were at $36.43 billion in January compared to $37.32 billion a year ago.