India’s trade deficit in goods widened to $6.28 billion in May from $3.15 billion during the same period a year earlier, revised trade data released by the Union Ministry of Commerce & Industry on Tuesday showed.
Merchandise exports rose 69.35% in May from a year earlier to $32.27 billion, driven by healthy growth in sectors such as engineering, petroleum products and gems and jewellery, while imports were up 73.64% to $38.55 billion, the government data showed.
Exports in May 2020 stood at $19 billion, and in May 2019 it was at $29.85 billion, the data showed.
Imports too grew in May this year by 73.64% to $38.55 billion, from $222 billion in the same month a year ago — leaving a trade deficit for the month being reviewed at $6.28 billion.
In May 2019, imports stood at $46.68 billion. The trade deficit in May last year stood at $3.15 billion.
Exports during April-May this year jumped to $62.89 billion, as against $29.41 billion in the same period last year.
Imports during April-May 2021 were recorded at $84.27 billion, an increase from $39.32 billion in the same two months of 2020. The trade deficit during the said period came in at $21.38 billion as against $9.91 billion in April-May 2020.
Oil imports during May 2021 rose to $9.45 billion, as compared to $3.49 billion in the same month of 2020.
Gold imports increased to $679 million during the month under review from $76.31 million in May 2020.
Exports of engineering, petroleum products and gems and jewellery in May stood at $8.64 billion, $5.33 billion and $2.96 billion, respectively.
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