India’s February trade deficit $12 bn on costlier oil imports

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New Delhi, March 15 (IANS) Indias trade deficit in February at $12 billion narrowed from an over a four-year high of the previous month at $16.3 billion, as exports picked up while imports moderated, official data showed on Thursday.

According to figures released by the Commerce Ministry, the trade deficit in February, however, was 36.36 per cent higher than in the same month a year ago at $9.5 billion mainly on account of higher prices paid on oil imports.

Exports in February at $25.8 billion rose 4.5 per cent as compared to the corresponding month of last year.

The country’s imports last month grew 10.4 per cent to $37.8 billion, as compared to the $34.2 billion worth of imports in February 2017.

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