India’s Feb trade deficit falls to lowest level since Sept 2013
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, India’s trade deficit in February declined to the lowest level seen since September 2013, falling to $6.54 billion compared with $7.64 billion in the same month of 2015. The contraction was attributed to weak global demand and lower commodity prices.
Data released by India’s Ministry of Commerce and Industry showed that the country’s exports fell around 5.66% on the year to $20.74 billion, falling for a fifteenth consecutive month in February. Imports, meanwhile, slid 5.03% year over year to $27.28 billion last month. Some exporters reportedly commented that annual exports could fall to near $260 billion in the current year compared with $310 billion in the previous year.
India’s economy is expected to grow by 7.6% in the current fiscal year ending March.
Data released by India’s Ministry of Commerce and Industry showed that the country’s exports fell around 5.66% on the year to $20.74 billion, falling for a fifteenth consecutive month in February. Imports, meanwhile, slid 5.03% year over year to $27.28 billion last month. Some exporters reportedly commented that annual exports could fall to near $260 billion in the current year compared with $310 billion in the previous year.
India’s economy is expected to grow by 7.6% in the current fiscal year ending March.
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