India’s exports up by 25.1% to $34.57 Billion in February


India’s exports up by 25.1% to $34.57 Billion in February

India’s merchandise exports grew by 25.1 per cent in February this year as compared to February 2021. Exports also grew by over 24.6 per cent over two years ago or in February 2020, just before the Covid-19 pandemic. 

Final figures for February released by the Ministry of Commerce and Industry on March 14 showed that outbound trade increased to $34.5 billion in February from $27.63 billion in February 2020.

Exports grew by 46% in April-February of FY22

Cumulative exports of India increased by 46 per cent in the April-February period of FY22 compared to the same period in the previous year, registered total exports worth $374.8 billion. In 2019-20 the cumulative exports over the corresponding period were $256.5 billion, the ministry said.

The rise in exports is seen in all the sectors including non-petroleum and non-gems and jewellery goods.

Petroleum products exports grew by 88%

In the export categories, petroleum products exports grew by 88 per cent due to higher global prices. Both electronics and engineering items registered a growth of over 30 per cent, respectively. Apparel and Gems & Jewellery registered a growth of 18 per cent. Pharma exports fell 1.8 per cent in February.

Non-petroleum & non-gems- jewellery exports stood at $26.75 billion

As of February, non-petroleum and non-gems & jewellery exports stood at $26.75 billion, registering a growth of 19 per cent over non-petroleum and non-gems & jewellery exports of $22.5 billion in February 2021, and growth of 25.7 per cent over February 2020. Policymakers point to this as a claim of the robust health of the export sector.

Non-petroleum & non-gems- jewellery exports stood at $283.99 billion in April-February FY22

Non-petroleum and non-gems and jewellery exports during April-February 2021-22 stood at $283.99 billion, an increase of 33.99 per cent over non-petroleum and non-gems and jewellery exports of $211.95 Billion in April-February 2020-21 and an increase of 29.55 per cent over non-petroleum and non-gems & jewellery exports of $219.22 Billion in April-February 2019-20.

Top export products in February

Engineering Goods – $9.321 Billion

Petroleum Products – $4.649 Billion

Gems & Jewellery – $3.165 Billion

Organic & Inorganic Chemicals – $2.420 Billion

RMG of all Textiles – $1.600 Billion