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Trade deficit widens to four-month high of $14.62 bn in May as oil imports surge 50%: Commerce ministry data

New Delhi: India's trade deficit widened to four-month high of $14.62 billion in May as imports surged nearly 15 percent, the government said today.

 Trade deficit widens to four-month high of .62 bn in May as oil imports surge 50%: Commerce ministry data

Representational image. Reuters.

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

Trade deficit widened to $14.62 billion from $13.84 billion in May 2017.

Oil imports were up 49.46 percent to $11.5 billion on back of surge in international crude prices.

Gold imports were dropped by 29.85 percent to $3.48 billion in May compared to $4.96 billion in May 2017.

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Updated Date: Jun 15, 2018 19:09:08 IST