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The commerce ministry in its latest data has showed that India's merchandise exports declined for the fourth month in a row in February 2025, falling by 12.19 per cent year-on-year to $36.91 billion as against $41.41 billion a year ago, due to volatility in petroleum prices and global uncertainties. Besides, merchandise imports were lower at $50.96 billion in February 2025 as compared with $60.92 billion in February 2024. The trade deficit, or the gap between imports and exports, for February 2025 stood at $14.05 billion, the lowest level since August 2021. In February 2024, the merchandise trade deficit stood at $19.5 billion. 

According to the data, merchandise exports during April-February 2024-25 were $395.63 billion as compared to $395.38 billion during April-February 2023-24. Merchandise imports during April-February 2024-25 were $656.68 billion as compared to $621.19 billion during April-February 2023-24. Merchandise trade deficit during April-February 2024-25 was $261.06 billion as compared to $225.81 billion during April-February 2023-24. 

It further said non-petroleum and non-gems & jewellery exports in February 2025 were $28.57 billion as compared to $29.99 billion in February 2024. Non-petroleum and non-gems & jewellery exports in April-February 2024-25 were $310.09 billion, as compared to $286.55 billion in April-February 2023-24. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in February 2025 were $35.02 billion as compared to $33.96 billion in February 2024. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-February 2024-25 were $415.85 Billion, as compared to $388.82 billion in April-February 2023-24.