India`s exports at six-month high of $28.86 billion |
India`s exports grew 20.18 per cent to $28.86 billion in May -- the highest in six months, even though the trade deficit widened to a four month high of $14.62 billion. Imports too rose by 14.85 per cent to $43.48 billion during the month. The previous high growth of exports was recorded at 30.55 per cent in November 2017. Similarly, in January this year, the trade deficit was at $16.28 billion. Exporting sectors, which helped to push the shipments in May include petroleum products, chemicals, pharmaceuticals and engineering. However, exports of cashew, iron ore, textiles, gems and jewellery, handicrafts and carpet registered negative growth. Gold imports during the month under review dipped by 29.85 per cent to $3.48 billion as against $4.96 billion in the same period last year. During April-May 2018-19, exports grew by 12.58 per cent to $54.77 billion, while imports were up by 9.72 per cent to $83.11 billion. Trade deficit widened to $28.34 billion in the two months of this fiscal as compared to $27.09 billion during the same period previous fiscal. Commerce and Industry Minister Suresh Prabhu said that in May, exports grew by 20.18 per cent. Also, in 2017-18, exports of goods and services put together rose by 12.78 per cent, which is highest in about 6-7 years.
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