Commerce minister Suresh Prabhu. Photo: Mint
Commerce minister Suresh Prabhu. Photo: Mint

India’s trade deficit widens to 4-month high of $14.62 billion

Commerce minister Suresh Prabhu said exports in May rose by 20.18% to $28.86 billion while imports were up 14.85% to $43.48 billion

New Delhi:India’s trade deficit widened to 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 20.18% 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 dropped by 29.85% to $3.48 billion in May compared to $4.96 billion in May 2017.

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