New Delhi, Mar 11 (PTI and Reuter): India's exports have increased for the second month in succession, by 4.25 per cent to US$26.26 billion in February over the same month of 2012.
In February 2012, exports had touched $25.19 billion.
“Europe is performing better, there is a slight improvement in demand,” Commerce Secretary S R Rao told reporters here.
Exporting sectors that performed well include engineering goods, textiles, rice, oil meals, pharmaceutical and chemicals.
Imports also rose, by 2.6 per cent to $41.1 billion in the month under review, leaving a trade deficit of $14.92 billion.
However, during the April-February period of financial year 2012-13, exports declined by four per cent to $265.95 billion.
Last month, commerce minister Anand Sharma had admitted that India is unlikely to hit the export target for $350 billion for 2012-13 it had set for itself.
At that time, he had hinted at an overall export figure of around $300 billion for the full year. With the February figures announced, even this is unlikely.
In March 2012, India reported exports of $28.7 billion, a 5.7 per cent decline on the figure for March 2011.
Imports during the 11-month period grew by 0.25 per cent to $448 billion, leaving a trade deficit of $182.1 billion.