New Delhi: Exports from India declined 10.3% year-on-year in May this year. The total exports from India in May stood at $34.98 billion. Imports also declined 6.6% to $57.1 billion. Imports were at $61.13 billion in May last year.
This is for fourth month in row that the exports are declining. Imports too declined for the sixth month in a row.
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The merchandise trade deficit touched a five-month high of $22.1 billion in May. It was at $15.1 billion in April 2023. Trade deficit is the difference between imports and exports of the country.
‘Non-petroleum and non-gems & jewellery exports in May 2023 were $26.22 Billion, compared to $27.30 Billion in May 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in May 2023 were $35.88 Billion, compared to $5.29 Billion in May 2022,’ the commerce ministry said in a statement.
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