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May exports up 56.9% y/y: govt

May exports up 56.9% y/y: govt
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First Published: Fri, Jul 01 2011. 11 45 AM IST
Updated: Fri, Jul 01 2011. 11 45 AM IST
New Delhi: India’s exports in May rose an annual 56.9% to $25.9 billion, while imports for the month rose 54.1% to $40.91 billion, government data released on Friday showed.
India’s trade deficit in May stood at $15 billion, the highest since September 2008, as the country’s demand for oil, gold and industrial machinery soared, prompting concerns the gap for the fiscal year could expand despite a strong rebound in exports.
India’s exports grew a record 37.6% in the 2010-11 fiscal year that ended in March, as demand soared for engineering goods, oil products and gems manufactured in Asia’s third-largest economy.
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First Published: Fri, Jul 01 2011. 11 45 AM IST