India’s February exports up 17% | Current Affairs, Current Affairs 2017

India’s February exports up 17%

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India's February exports up 17%India’s exports revived for the sixth straight month, as the country’s merchandise shipments overseas reported a double-digit growth during February, official data showed on Wednesday.

According to data released by the Ministry of Commerce and Industry, the exports grew by 17.48 per cent to $24.49 billion from $20.84 billion worth of merchandise shipped out during February 2016.

However, the country’s imports during the month under review increased by 21.76 per cent to $33.38 billion from $27.41 billion worth of merchandise which were shipped out in during the corresponding month of last year.

Consequently, the trade deficit during February reduced to $8.89 billion from $9.84 billion reported for the month before. On a year-on-year (YoY) basis, the trade deficit stood at $6.57 billion during same month of 2016.

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