India's Exports Slide Amid Global Market Fluctuations

India's exports faced a continuous decline over the past four months, attributed to volatile petroleum prices and global market uncertainties. In February, exports dropped to USD 36.91 billion. However, the trade deficit narrowed as imports decreased. Year-to-date exports have increased by 6.24% compared to the previous year.

India has seen its exports decline for the fourth consecutive month this February, as reported by the commerce ministry. The country's export numbers slid to USD 36.91 billion, a drop influenced by unstable petroleum prices and uncertainties in global markets.

The same month last year, India stood at USD 41.41 billion in exports. Despite the decline, the trade deficit improved, narrowing to USD 14.05 billion. This came as a result of a reduction in imports, which decreased to USD 50.96 billion, offering some relief.

Examining the broader picture, from April to February of the current fiscal year, the commerce ministry highlighted that overall merchandise and services exports rose by 6.24 percent, reaching USD 750.53 billion. This compares favorably against last year's figure of USD 706.43 billion, signaling robust growth despite periodic downtrends in recent months.

(With inputs from agencies.)