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Trump Tariffs: Feb Exports Down 11%
Financial Express Mumbai
|March 18, 2025
Trade deficit narrows to $14 billion, lowest since 2021
India's merchandise trade deficit slumped to $14.05 billion in February, the lowest since August 2021, as imports of petroleum crude and gold fell sharply, and the uncertainty over US tariffs hampered global trade.
Exports were down 10.8% to $36.9 billion during the month, registering the fourth straight month of contraction. Imports plunged by a sharper 16.3% to $50.96 billion, the lowest since April 2023.
The fall in global commodity prices also impacted the trade numbers. Crude oil imports fell 29.6% to $11.9 billion, while gold imports were down 62% to $2.3 billion.
This story is from the March 18, 2025 edition of Financial Express Mumbai.
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