(Bloomberg) -- India’s trade deficit narrowed in February as exports snapped a six-month losing streak.
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The gap between exports and imports was $9.85 billion last month, compared with $15.2 billion in January, according to data released by the Commerce Ministry on Friday. That compares with the median estimate of $11.4 billion in a Bloomberg survey of 25 economists.
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Key Insights
- Imports rose 2.48% from a year ago to $37.5 billion, compared with a 0.7% drop in January, while exports rose 2.91% to $27.7 billion
- The economic downturn has curbed demand for imports in recent months, while exports were impacted after the U.S.-China trade war disrupted global demand. The spread of coronavirus has further affected supply chains and outlook for trade
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- Oil imports rose 14.3% from a year earlier to $10.8 billion
- To read the full statement on trade numbers, click here
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