Trade deficit widens to $15.36 bn in May

Imports grow faster than exports; electronics, chemicals see good export growth.

  • India’s trade deficit widened in May 2019 to $15.36 billion, with imports growing faster that exports during the period.
  • Exports grew 3.93% in May to $30 billion compared with $28.86 billion worth of exports in the same month last year.
  • The industries that saw a major growth in exports include electronic goods (50.97%), organic and inorganic chemicals (20.64%), and readymade goods of all textiles (14.15%).
  • MSME sectors are still facing the problem of liquidity besides various other challenges, including uncertainties owing to tariff war, volatility in commodities/currencies, rapid rise in trade restrictive measures and constraints on the domestic front,” he added. Imports into India grew 4.31% in May 2019 to $45.35 billion, up from $43.48 billion worth of imports in May 2018.
  • The segments that saw strong growth in exports include pulses (84.2%) and gold (37.4%).

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