India's overall exports touch $57.03B in February 2022, up by 25 pc

Overall exports from India, including merchandise and services, reached $57.03 billion in February 2022, witnessing a 25.41 percent growth vis-à-vis same month last year. In February 2021 and February 2020, the Indian goods and services sold abroad were pegged at $45.48 billion and $44.88 billion respectively, according to data released by the government.

Merchandise exports for the period April-February 2021-22 was $374.81 billion as against $256.55 billion during the period April-February 2020-21, registering a positive growth of 46.09 percent, the report released by the Commerce Ministry revealed.

However, imports have also seen a rise in the last three years for both merchandise and services. India imported 36.07 percent more goods this year ($55.45 billion) as compared to last year ($40.75 billion).

Additionally, imports of services also grew from 10.38 percent in February 2021 to 13.91 percent in February 2022.

The overall imports have seen a 35.64 percent rise in the last one year.

Commodities that exhibited a positive growth since last year include petroleum products, electronic products, yarn/cotton, and other handloom items, engineering goods, coffee, gems and jewellery, and a few more products.

Goods and products like carpets, oil meals, iron ore, drugs and pharmaceuticals, ceramic products and glassware, and more have exhibited negative export growth this year, which means that exports have considerably gone down.