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Saturday, April 20, 2024

In February, exports climbed by 11.9% to $41.4 billion

<p>With an 11.9 percent rise to $41.4 billion in February, India’s monthly exports saw their greatest gain of the fiscal year, mostly from higher shipments of pharmaceutical, electrical, and engineering goods.</p>
<p><img decoding=”async” class=”alignnone wp-image-514346″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-in-february-exports-climbed-by-11-9-to-41-4-billion-2024-3largeimg-1881794987-750×498.jpg” alt=”theindiaprint.com in february exports climbed by 11 9 to 41 4 billion 2024 3largeimg 1881794987″ width=”993″ height=”660″ title=”In February, exports climbed by 11.9% to $41.4 billion 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-in-february-exports-climbed-by-11-9-to-41-4-billion-2024-3largeimg-1881794987-750×498.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-in-february-exports-climbed-by-11-9-to-41-4-billion-2024-3largeimg-1881794987-768×510.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-in-february-exports-climbed-by-11-9-to-41-4-billion-2024-3largeimg-1881794987.jpg 800w” sizes=”(max-width: 993px) 100vw, 993px” /></p>
<p>Due to a sharp increase in gold imports, the trade imbalance in February of this year was $18.7 billion, compared to $16.57 billion in the same month last year.</p>
<p>The value of merchandise imports was $60.11 billion, a 12.16% increase from $53.58% in February 2023. According to figures from the trade ministry, gold imports increased by 133.82% to $6.15 billion in February from $2.63 billion in the same time last year.</p>
<p>Commerce Secretary Sunil Barthwal said that exports in February exceeded all projections, in spite of a number of challenges, including the continuing conflict between Russia and Ukraine and economic downturns in certain nations.</p>
<p>Forex Kitty grows by $10.47 billion to $636 billion.</p>
<p>The RBI said on Friday that India’s foreign exchange reserves increased by $10.47 billion to $636.095 billion for the week ending March 8. The total reserves have increased to $625.626 billion from $6.55 billion the week before.</p>

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