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By Shivangi Acharya
NEW DELHI, March 15 (Reuters) - India's merchandise and
services exports rose in February despite global headwinds,
according to data released by the government on Wednesday,
helped by petroleum, electronics and pharmaceutical products.
India's merchandise trade deficit in February stood at
$17.43 billion, its lowest in over a year. That was below the
$17.75 billion recorded in the previous month, as well as the
$19 billion forecast in a Reuters poll.
February merchandise exports were $33.88 billion, up from
$32.91 billion in January, while imports rose to $51.31 billion
from $50.66 billion, data showed.
India's Satya Srinivas, additional secretary at the
trade ministry, said export growth was driven by petroleum
products, electronic goods, chemicals and pharmaceutical
products.
India's April-February merchandise exports were up 7.55%
year-on-year to $405.94 billion, while goods imports during the
same period were up 18.82% to $653.47 billion, the data showed.
The country's services exports in February were $29.15
billion, while services imports were $14.55 billion during the
month, according to the government's preliminary estimate.
Services exports in January were $28.04 billion, while imports
were $14.23 billion.
India's merchandise and services exports were up over 16% on
year to $702.88 billion in April-February period, while imports
were up 20% to $817.46 billion during the period.
(Reporting by Shivangi Acharya; Editing by Andrew Heavens and
Christina Fincher)
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