Trade deficit widens to 4-month high of $14.62 billion: Suresh Prabhu
Suresh Prabhu, minister of commerce and industry said exports in May rose by 28.18% to Rs 28.86 billion while imports were up 14.85% to $43.48 billion.business Updated: Jun 15, 2018 18:03 IST
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.
Minister of commerce and industry Suresh Prabhu said exports in May rose by 28.18% to Rs 28.86 billion while imports were up 14.85% to $43.48 billion.
The country’s 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.
First Published: Jun 15, 2018 13:59 IST