India?s trade deficit in Apr-May widened to $21.71 billion from $14.51 billion a year ago as imports rose faster than exports on rapid recovery in manufacturing sector, government data showed on Thursday. Exports in the first two months on 2010-11 increased 35.7% to $33.03 billion, while imports were up 41% to $54.75 billion. In May, the trade deficit was $11.29 billion, higher than $7.85 billion a year earlier, as imports were as high as $27.43 billion against $16.15 billion exports. Exports during the month moved up 35% y-o-y, while imports were up 38.5%. Oil imports in May were up 66.7% on year to $8.84 billion, while non-oil imports rose 32.3% to $18.59 billion. In Apr-May, oil imports were up 68.5% y-o-y to $16.9 billion.
Apr-May trade gap rises to $21.71 bn
India?s trade deficit in Apr-May widened to $21.71 billion from $14.51 billion a year ago as imports rose faster than exports...
Written by Tanmay Sar
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This article was first uploaded on July two, twenty ten, at forty-five minutes past eleven in the night.