India’s Trade Deficit Narrows in February 2020

India’s trade deficit narrowed markedly in February 2020 to USD 9.9bn from USD 15.2bn in January, due to the fact that the imports decreased on a monthly basis to USD 37.5bn. Exports, on the other hand, stood at USD 27.4bn. The reported trade gap is the smallest deficit since February 2019. 

Compared to a year earlier, both imports and exports increased, by 2.5% y/y and 2.9% y/y, respectively. By contrast, in January 2020 both indicators declined: imports by 0.7% y/y and exports by 1.7% y/y.

Detailed data and further indicators on India’s economy can be found on CEIC India Premium Database.