New Delhi: India’s merchandise exports grew by 20.55 percent to $ 38.94 billion in May, while trade deficit According to government data released on Wednesday, this record stood at $ 24.29 billion. The data shows that during May 2022, imports grew by 62.83 percent to $63.22 billion.
The trade deficit in the same month last year was $6.53 billion.
Cumulative exports grew by nearly 25 per cent to $78.72 billion in April-May 2022-23.
Imports grew by 45.42 per cent to $123.41 billion in April-May 2022-23.
The trade deficit widened to $44.69 billion during the first two months of the current fiscal, from $21.82 billion in the year-ago period.
Petroleum and crude oil imports grew by 102.72 percent to $19.2 billion during May 2022.
Imports of coal, coke and briquettes increased to $5.5 billion as against $2 billion in May 2021.
Gold imports rose to $6 billion during the month under review from $677 million in May 2021.
Export sectors that registered negative growth in May include iron ore, cashew, handicrafts, plastics, carpets and spices.
The commerce ministry said the estimated value of imports of services for May is $14.43 billion, showing a positive growth of 45.01 percent as compared to $9.95 billion in the same month last year.
“The estimated value of imports of services for April-May 2022 is $28.48 billion, showing a positive growth of 45.52 percent over April-May 2021 ($19.57 billion),” it said.
The trade deficit in the same month last year was $6.53 billion.
Cumulative exports grew by nearly 25 per cent to $78.72 billion in April-May 2022-23.
Imports grew by 45.42 per cent to $123.41 billion in April-May 2022-23.
The trade deficit widened to $44.69 billion during the first two months of the current fiscal, from $21.82 billion in the year-ago period.
Petroleum and crude oil imports grew by 102.72 percent to $19.2 billion during May 2022.
Imports of coal, coke and briquettes increased to $5.5 billion as against $2 billion in May 2021.
Gold imports rose to $6 billion during the month under review from $677 million in May 2021.
Export sectors that registered negative growth in May include iron ore, cashew, handicrafts, plastics, carpets and spices.
The commerce ministry said the estimated value of imports of services for May is $14.43 billion, showing a positive growth of 45.01 percent as compared to $9.95 billion in the same month last year.
“The estimated value of imports of services for April-May 2022 is $28.48 billion, showing a positive growth of 45.52 percent over April-May 2021 ($19.57 billion),” it said.