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.

Representational image. Reuters.

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.

Updated Date: Jun 15, 2018 19:09 PM

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