Exports jump to $32.21 bn in May; trade deficit at $6.32 bn

PTIUpdated: Wednesday, June 02, 2021, 12:58 PM IST
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Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion, the commerce ministry's preliminary data showed. |

India's exports grew by 67.39 percent to $32.21 billion in May driven by healthy growth in sectors such as engineering, pharmaceuticals, petroleum products and chemicals, according government data released on Wednesday.

Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion, the commerce ministry's preliminary data showed.

Imports in May rose by 68.54 percent to $38.53 billion, from $22.86 billion in May 2020. In May 2019, imports stood at $46.68 billion.

"India is thus a net importer in May 2021 with a trade deficit of $6.32 billion, an increase of 74.69 percent over trade deficit $3.62 billion in May 2020 and reduction by 62.49 percent over trade deficit $16.84 billion in May 2019," the ministry said.

Oil imports during the month under review rose to $ 9.45 billion, as compared to $3.57 billion in May 2020. In May 2019, it stood at $12.59 billion.

Exports during Apr-May this year jumped to $62.84 billion, as against USD 29.6 billion in the same period last year. It was $55.88 billion in Apr-May 2019, the data showed.

Imports during Apr-May 2021 was $84.25 billion, an increase from $39.98 billion in April-May 2020. In Apr-May 2019 it stood at $89.07 billion.

In Apr-May 2021, oil imports aggregated at $20.32 billion from $8.24 billion in Apr-May 2020. In Apr-May 2019 it was $24.16 billion.

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