INDIA’S TRADE DEFICIT JUMPS 74.6% IN MAY: GOVT DATA

NEW DELHI: India’s trade deficit in goods was $6.32 billion in April, preliminary data released by the government on Wednesday showed.

Merchandise exports rose to $32.21 billion for the month from $19.24 billion a year earlier, while imports rose to $38.53 billion from $22.86 billion, the data showed.

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

Oil imports during May this year rose to $9.45 billion, as compared to $3.57 billion in May 2020. In May 2019, it stood at $12.59 billion.

Exports of engineering, petroleum products and gems and jewellery in May stood at $3 billion, $3.51 billion and $1.9 billion respectively.