India’s highest monthly merchandise exports Surge to $41.40 Billion in February 2024, Marking an 11.86% Increase YoY.
India’s overall exports (Merchandise and Services combined) in February 2024* is estimated to be USD 73.55 Billion, exhibiting a positive growth of 14.20 per cent over February 2023. Overall imports in February 2024* is estimated to be USD 75.50 Billion, exhibiting a positive growth of 10.13 per cent over February 2023.
Table 1: Trade during February 2024*
| February 2024
(USD Billion) |
February 2023
(USD Billion) |
||
| Merchandise | Exports | 41.40 | 37.01 |
| Imports | 60.11 | 53.58 | |
| Services* | Exports | 32.15 | 27.40 |
| Imports | 15.39 | 14.97 | |
| Overall Trade
(Merchandise +Services) * |
Exports | 73.55 | 64.41 |
| Imports | 75.50 | 68.56 | |
| Trade Balance | -1.95 | -4.15 |
* Note: The latest data for services sector released by RBI is for January 2024. The data for February 2024 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-February 2022-23 and April-September 2023 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during February 2024*
The Complete Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2014929