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Trade Deficit Widens To $14.62 Billion In May

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New Delhi: Merchandise exports in May rose 20.2 percent year-on-year, the trade ministry said on Friday, but the trade deficit widened to $14.62 billion driven mainly by a 50 percent surge in oil imports despite higher global prices.Merchandise exports last month rose to $28.86 billion from a year ago, while imports rose 14.85 percent on year to $43.48 billion, the Ministry of Commerce and Industry said in a statement.

Recently, TheIndianSubcontinent reported that current account deficit (CAD) at $13.0 billion (1.9 per cent of GDP) in Q4 of 2017-18 rose from $2.6 billion (0.4 per cent of GDP) in Q4 of 2016 -17.© Thomson Reuters 2018(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)




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