India’s exports grew an annual 4.3 per cent to $24.6 billion in February,while imports rose 20.7 per cent to $39.8 billion,government data showed on Monday.
The trade deficit widened to $15.2 billion during the month from $14.8 billion in January,while exports between April and February grew 21.4 per cent to $267.4 billion.
Oil imports jumped 39.45 per cent from a year earlier to $12.66 billion in February.
India’s overseas sales had surged at the start of the last financial year,but weakening demand from key export markets such as the United States and Europe in recent months has widened the country’s trade deficit.
Trade Secretary Rahul Khullar said last month India’s trade deficit for the 2011/12 financial year that ended on March 31 would likely touch $175-180 billion from an earlier estimate of $160 billion.