Trade gap widens to $15.36 billion

Trade gap widens to $15.36 billion

India's exports grew by 3.93% to $30 billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering, according to a commerce ministry data released Friday.

AgenciesUpdated: Friday, June 14, 2019, 10:23 PM IST
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Workers load imported soybeans onto trucks at a port in Nantong in China's eastern Jiangsu province on April 4, 2018. China unveiled plans on April 4 to hit major US exports worth 50 billion USD such as soybeans, cars and small airplanes with retaliatory tariffs in an escalating trade duel between the world's two top economies. / AFP PHOTO / - / China OUT |

New Delhi: India's exports grew by 3.93% to $30 billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering, according to a commerce ministry data released Friday.

Imports too rose by 4.31% to $45.35 billion, widening the trade deficit to $15.36 billion in May. The deficit, the difference between exports and imports, was $14.62 billion in May 2018.

Oil imports rose by 8.23% to $12.44 billion and non-oil imports expanded by 2.9% to $32.91 billion during the month under review. Gold imports rose by 37.43% to $4.78 billion. Cumulatively, exports in April-May 2019-20 was up by 2.37% to $56 billion. Imports rose by 4.39% to $86.75 billion, registering a trade deficit of $30.69 billion. n the vessels.

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