India's exports fell for the fourth straight month in February, reaching USD 36.91 billion, primarily due to volatility in petroleum prices and global economic uncertainties.
This marks a decline from USD 41.41 billion recorded in the same month last year.
Despite the drop in exports, the country's trade deficit narrowed to USD 14.05 billion, as imports reduced to USD 50.96 billion in February, according to data released by the commerce ministry.
The decline in imports helped ease concerns over the widening trade gap.
Between April and February of the current financial year, India's combined merchandise and services exports grew by 6.24 per cent, reaching USD 750.53 billion, compared to USD 706.43 billion in the corresponding period of the previous year.
However, the downward trend in merchandise exports has been evident over the past four months. In January, exports stood at USD 36.43 billion, lower than the USD 37.32 billion recorded a year ago.
In December, they amounted to USD 38.01 billion, slightly below the USD 38.39 billion reported in December 2023.
The decline was even sharper in November 2024, with exports dropping to USD 32.11 billion from USD 33.75 billion in the same month of the previous year.
The contraction in exports highlights the impact of global economic conditions and fluctuating commodity prices on India's trade performance.
While the reduction in imports has provided some relief in terms of the trade deficit, the overall decline in outward shipments remains a concern for policymakers and industry stakeholders.
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