New Delhi, March 15:

India’s merchandise exports rose by 26 per cent in the 11 months to February, but rising oil import prices led to a widening trade gap, the government said today.

Exports for the period rose to $88.7 billion from $70.2 billion in the same period last year, the ministry of commerce said on its website. But India’s imports in the same period rose by 33 per cent to $126 billion with oil imports accounting for $39.7 billion, a 49.4 per cent increase over the same period last year.

India imports about 70 per cent of its oil requirements. As a result, the trade deficit in the April-February period of India’s fiscal year widened to $37.57 billion from $24.73 billion during the same period last year For February, exports rose by 12.3 per cent to $7.8 billion while imports gained by 21.4 per cent to $11 billion.