India's Exports Record High in Feb 2024

India's exports in February 2024 hit a record high of $41.4 billion, marking an 11.9% growth compared to the same period last year.

The trade deficit for February stood at $18.7 billion, up from $16.57 billion a year ago, primarily due to a surge in gold imports.
Merchandise imports increased by 12.16% to $60.11 billion in February 2024 compared to February 2023.
Gold imports rose significantly by 133.82% to $6.15 billion in February, contributing to the trade deficit.
Despite challenges such as the Russia-Ukraine war and economic recessions in some countries, India's February exports exceeded expectations.
Engineering goods, electronics, chemicals, pharmaceuticals, and petroleum products were the main drivers of export growth.
Overall exports (merchandise and services combined) for April-February 2023-24 are estimated at $709.81 billion, with a 0.83% growth compared to the previous fiscal year.
India's overall exports in February 2024 reached $73.55 billion, growing by 14.2% compared to February 2023, while imports amounted to $75.50 billion, marking a 10.13% increase.