- Last month, exports of $ 40.55 billion amounted to about 2.99 lakh crore rupees.
- Oil worth about 65 thousand crores was imported for 8.99 billion dollars.
India’s total exports as of February 2021 have been around $ 27.67 billion to 2.03 lakh crore rupees. It declined by 0.25% compared to the same period a year ago. At the same time, imports during this period increased by 6.98% to $ 2.99 lakh crore from 40.55 billion rupees compared to the same period a year ago. According to the provisional data of the Ministry of Commerce, the trade deficit in February 2021 was $ 12.88 billion, about 94 thousand crore rupees. The trade deficit in February 2020 was $ 10.16 billion, around 74 thousand crore rupees.
Exports declined by 12.32% during April to February
According to the data of the Ministry of Commerce, India’s total exports during April 2020 to February 2021 have been $ 255.92 billion, about 18.78 lakh crore rupees. A year ago in the same period, India’s total exports stood at around $ 291.87 billion to about Rs 21.42 lakh crore. Thus, there has been a decline of 12.32% in exports in the first 11 months of the current financial year. Imports have fallen by 23% during this period, with imports of $ 340.88 billion and nearly Rs 25 lakh crore.
Oil imports down 16.63% in February
Oil imports declined by 16.63% in the month of February. This month, oil worth about 65 thousand crore rupees has been imported for $ 8.99 billion. Oil imports declined by 40.18% in the first 11 months of the current financial year. During this period, oil worth about $ 5.28 lakh crore has been imported for $ 72.08 billion. The major commodities that registered positive growth in February include oil mills, iron ore, rice, meat, dairy and poultry products, carpets, chillies, pharmaceuticals and chemicals.
Exports of these products fell
Commodities that have shown negative growth in exports in February include Petroleum Products (-27.13%), Leather (-21.62%), Cashew (-18.6%), Gems & Jewelery (-11.18%), Engineering Goods (-2.56%). ), Tea (-2.49%) and coffee (-0.73%).
7% growth in GST collection
The GST collection in February 2021 has been more than Rs 1 lakh crore for the fifth consecutive month. According to the data released by the Finance Ministry on Monday, there has been a GST collection of Rs 1,13,143 lakh crore in the last month. It has grown by 7% compared to the same period a year ago.
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