Exports fall 36.47% in May, trade deficit narrows to $3.15 billion – Times of India: NEW DELHI: Contracting for the third straight month, India’s exports declined 36.47 per cent in Could to $19.05 billion, primarily on account of drop in shipments by key sectors equivalent to petroleum, textiles, engineering, gems and jewelry.
Exports fall 36.47% in May, trade deficit narrows to $3.15 billion – Times of India
Imports too plunged 51 per cent to $22.2 billion in Could, leaving a commerce deficit of $3.15 billion, in comparison with $15.36 billion in the identical month earlier 12 months, based on the info launched by the commerce and trade ministry.
Throughout April-Could 2020, the exports fell 47.54 per cent to $29.41 billion, whereas imports shrank by 5.67 per cent to $39.32 billion.
Commerce deficit stood at $9.91 billion in the course of the two months of the present fiscal.
Oil imports stood at $3.49 billion in Could – 71.98 per cent decrease in comparison with $12.44 billion in the identical month final 12 months.
Gold imports in Could dipped 98.four per cent to $76.31 million.