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Exports Slump 20% in May; Trade Deficit At $10.41 Billion
Exports and imports both fell in the month of May 2015 showing sluggish activity, data released by the government showed.
Exports for the period April-May 2015-16 was placed at $44.40 as against $53.63 billion in the corresponding period of last year, thus showing a de-growth.
Imports during May, 2015 were valued at $32.75, which was 16.52 per cent lower in Dollar terms and 10.19 per cent lower in Rupee terms over May 2014. Crude oil imports fell thanks to a drop in international crude prices. Crude oil import was placed at $8.53 billion, almost 41 per cent lower as compared to the corresponding period of last year.
The country's trade deficit narrowed to a three-month low of $10.41 billion last month from $10.99 in April.
The release of the data did not have any significant impact on the rupee which was marginally weaker at 64.14 to the dollar.
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