India’s trade deficit widens to four-month high at $14.62 billion

Commerce minister Suresh Prabhu says exports in May rose by 28.18% to $28.86 billion, while imports were up 14.85% to $43.48 billion

Oil imports were up 49.46% to $11.5 billion on back of surge in international crude prices. Gold imports were up 16.6% to $1.18 billion in May.
Oil imports were up 49.46% to $11.5 billion on back of surge in international crude prices. Gold imports were up 16.6% to $1.18 billion in May.

New Delhi: India’s trade deficit widened to a four-month high of $14.62 billion in May as imports surged nearly 15%, the government said on Friday.

Commerce minister Suresh Prabhu said exports in May rose by 28.18% to $28.86 billion, while imports were up 14.85% to $43.48 billion.

Trade deficit widened to $14.62 billion from $13.84 billion in May 2017. Oil imports were up 49.46% to $11.5 billion on back of surge in international crude prices. Gold imports were up 16.6% to $1.18 billion in May.