India’s exports grew by 3.93 per cent to around 30 billion dollars in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering. According to Commerce Ministry data, the imports have also rose by 4.31 per cent to 45.35 billion dollars. The trade deficit has widened to 15.36 billion dollars in May.
The Ministry said India’s overall exports (Merchandise and Services combined) in April-May 2019-20 are estimated to be 92.33 billion dollars, exhibiting a positive growth of 4.32 per cent over the same period last year. Overall imports in April-May 2019-20 are estimated to be 109.75 billion dollars, showing a positive growth of 5.30 per cent over the same period last year.