Trade Deficit Widens To $14.62 Billion In May
New Delhi:Â Merchandise exports in May rose 20.2 per cent year-on-year, the trade ministry said on Friday, but the trade deficit widened to $14.62 billion, driven mainly by a 50 percent surge in its oil import bill, on higher global prices.
Merchandise exports last month rose to $28.86 billion from a year ago, while imports rose 14.85 percent on year to $43.48 billion, the Ministry of Commerce and Industry said in a statement. Recently, NDTV reported that current account deficit (CAD) at $13.0 billion (1.9 per cent of GDP) in Q4 of 2017-18 rose from $2.6 billion (0.4 per cent of GDP) in Q4 of 2016 -17.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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