Exports soar to $32.21 billion in May; commerce deficit at $6.32 billion

India’s exports grew by 67.39 per cent to USD 32.21 billion in May pushed by wholesome progress in sectors corresponding to engineering, prescribed drugs, petroleum merchandise and chemical substances, in line with authorities knowledge launched on Wednesday.
Exports in May final 12 months stood at USD 19.24 billion and in May 2019 it was at USD 29.85 billion, the commerce ministry’s preliminary knowledge confirmed.
Imports in May rose by 68.54 per cent to USD 38.53 billion, from USD 22.86 billion in May 2020. In May 2019, imports stood at USD 46.68 billion.

“India is thus a net importer in May 2021 with a trade deficit of USD 6.32 billion, an increase of 74.69 per cent over trade deficit USD 3.62 billion in May 2020 and reduction by 62.49 per cent over trade deficit USD 16.84 billion in May 2019,” the ministry stated.
Oil imports throughout the month beneath assessment rose to USD 9.45 billion, as in comparison with USD 3.57 billion in May 2020. In May 2019, it stood at USD 12.59 billion.
Exports throughout Apr-May this 12 months jumped to USD 62.84 billion, as towards USD 29.6 billion in the identical interval final 12 months. It was USD 55.88 billion in Apr-May 2019, the information confirmed.

Imports throughout Apr-May 2021 was USD 84.25 billion, a rise from USD 39.98 billion in April-May 2020. In Apr-May 2019 it stood at USD 89.07 billion.
In Apr-May 2021, oil imports aggregated at USD 20.32 billion from USD 8.24 billion in Apr-May 2020. In Apr-May 2019 it was USD 24.16 billion.