Exports Up 3.93% in May; Trade Deficit Widens to $15.36 Billion
New Delhi: India’s exports grew by 3.93 per cent to USD 30 billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering, according to a commerce ministry data released on Friday.
Imports too rose by 4.31 per cent to USD 45.35 billion, widening the trade deficit to USD 15.36 billion in May.
The deficit, the difference between exports and imports, was USD 14.62 billion in May 2018.
Oil imports rose by 8.23 per cent to USD 12.44 billion and non-oil imports expanded by 2.9 per cent to USD 32.91 billion during the month under review.
Gold imports rose by 37.43 per cent to USD 4.78 billion.
Cumulatively, exports in April-May 2019-20 was up by 2.37 per cent to USD 56 billion. Imports rose by 4.39 per cent to USD 86.75 billion, registering a trade deficit of USD 30.69 billion.