New Delhi: India’s merchandise exports in May 2024 grew 9.09 per cent year-on-year. The from India rose to $38.13 billion in May . It was at $34.95 billion a year ago.
India’s merchandise imports were at $61.91 billion in May 2024, which is 7.7 per cent higher as against $57.48 billion a month ago.India’s merchandise exports during April-May 2024 were $73.12 Billion as compared to $69.57 billion during April-May 2023.
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The country’s trade deficit stood at $23.78 billion in May. Trade deficit is the difference between imports and exports. The previous high in the deficit was recorded in October 2023 at $ 31.46 billion.
‘Merchandise imports during April-May 2024 were $116.01 Billion compared to $106.54 Billion during April-May 2023. Merchandise trade deficit during April-May 2024 was $42.89 Billion compared to $36.97 Billion during April-May 2023,’ according to the latest data.
Oil imports rose by 28 per cent to $20 billion in May. It was up by 24.4 per cent during April-May 2024-25 to $36.4 billion. However, gold imports dipped marginally to $3.33 billion in May this year from $3.69 billion in the same month of FY24.
In April 2024, the outbound shipments dipped to $ 41.68 billion from $ 41.96 billion a year ago. Cumulatively, exports during April-May this fiscal rose by 5.1 per cent to $73.12 billion and imports rose by 8.89 per cent to $116 billion.
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