India’s trade deficit narrows to three-year low of $14.05 billion in February
a
India’s merchandise trade deficit declined to $14.05 billion in February 2025, the lowest level in three years. It was $22.99 billion in January 2025. This information was received from the latest data released by the Union Ministry of Commerce and Industry on March 17. The reason for the reduction in trade deficit is the stability of exports in February and the decrease in imports.
Exports increased by 1.3%, imports fell by 16.3%
The country’s merchandise exports increased by 1.3 percent to $36.91 billion in February, which was $36.43 billion in January. During this period, imports fell by 16.3 percent to $50.96 billion, which was $59.42 billion in January.
L Satya Srinivas, Additional Secretary in the Ministry of Commerce and Industry, said, “The trade deficit has currently come down to its lowest level since August 2021 due to a sharp decline in imports, stable exports and the high base effect of last February.” Trade deficit at $ 261.05 billion in 11 months The trade deficit in the 11 months so far of the current financial year was $ 261.05 billion. During this period, merchandise exports remained stable, while imports grew by 5.7 percent compared to the same period last year. Apart from this, the export of the service sector in February was $ 35.03 billion, which is 9.1 percent less than in January. Imports of services have fallen uniformly to $ 16.55 billion. Gold imports so far at $ 53.53 billion Gold imports worth $ 53.53 billion have been done so far in the current financial year. At the same time, the import of crude oil stood at $ 166.73 billion in the same period.
According to the data released by the government, the main components of merchandise exports include electronics goods, engineering goods, drugs and pharma, rice, gems and jewellery.
India’s smartphone exports cross Rs 1.75 lakh crore
According to the India Cellular and Electronics Association, India’s smartphone exports crossed Rs 1.75 lakh crore ($ 21 billion) in the 11 months of 2024-25 (April-February), which is 54 percent more than the same period of 2023-24.
