India's trade deficit increased to $18.71bn in February 2024 due to rising imports and exports growth.
India's trade deficit increased to $18.71bn in February 2024, widening from the previous month, with imports rising 12.2% y-o-y to $60.11bn and exports growing 11.9% to $41.4bn. The deficit aligns with economists' forecasts and is attributed to strong domestic demand and higher crude oil prices. Despite the widening trade deficit, India's current account gap remains manageable at 1% of GDP.
March 15, 2024
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