- Imports declined 51 percent to $ 22.2 billion in May
- Trade deficit falls from $ 15.36 billion to $ 3.15 billion
new Delhi. The country’s exports fell 36.47 percent to $ 19.05 billion in May. Petroleum, textiles, engineering, gems and jewelery sectors played a major role in the decline in exports. The country’s exports have declined for the third consecutive month.
Imports down by 51 percent
According to data released on Monday by the Ministry of Commerce and Industry, the country’s imports also fell by 51 percent to $ 22.2 billion in May. The country’s trade deficit fell to $ 3.15 billion last month as imports and exports declined. The country’s trade deficit was $ 15.36 billion in the year-ago period.
The country’s exports fell by 47.54 percent in April-May.
The country’s exports fell by 47.54 percent to $ 29.41 billion in the first two months (April-May) of the current financial year. Imports during the period fell by 5.67 percent to $ 39.32 billion. The trade deficit of the country stood at $ 9.91 billion in both months.
Oil imports fell by 72 percent and gold imports by 98 percent
Oil imports fell by 71.98 percent to $ 3.49 billion last month. India imported $ 12.44 billion worth of oil in the year-ago period. Gold imports fell 98.4 percent to $ 7.631 million in May.