February trade deficit narrows to $9.60 bn as gold and oil imports fall

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India’s trade deficit narrowed to $9.60 billion in February, dragged down by a fall in gold and oil imports, the trade ministry said in a statement on Friday.

The trade deficit was $14.73 billion in January.

In February, merchandise exports rose 2.44 per cent from a year earlier to $26.67 billion, while imports were down 5.41 per cent to $36.26 billion, data showed.

Gold imports in February fell 10.81 per cent year-on-year to $2.58 billion, compared to $2.90 billion during the same month a year ago.

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