In the year ago period trade gap stood at $14.12 billion. This is the second month in a row that the gap has narrowed, improving the outlook for the country's current account balance.
Imports during the month, fell to $33.82 billion from $36.67 billion in January. Oil imports fell marginally to $13.7 billion from $13.18 billion in the month ago period.
Exports in February were down to $25.69 billion from $26.75 billion in the previous month.
These figure do look really good does it not? HOWEVER read into it deeply it says our Industrial production will go down further and there will be a definite contraction......less imports, less oil used and less exports which effectively means less manufacturing. And forget the higher automobile sales, they are thankful to get their inventory levels down and not actually manufactured them