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India's Trade Deficit Widens To 5-Month High On Slow Exports Growth

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The trade deficit for the April month has inched to 5-month high as exports surged only marginally by 0.64% to $26 billion. Meanwhile, imports during the month increased by 4.5% to $41.4 billion in comparison to the same month a year ago.

India's Trade Deficit Widens To 5-Month High On Slow Exports Growth
 

The trade deficit came in at $15.33 billion, the highest since November 2018.

Imports increased at the highest pace in the last 6 months as gold and crude oil shipments increased during the month.

Merchandise exports, on the other hand, were down due to the negative growth registered in some of the major sectors including as engineering, gems and jewellery, leather, carpet, plastic, marine products, rice and coffee during the month under review.

Oil imports registered a growth of 9.26% to $11.38 billion and non-oil imports expanded by 2.78%t. Gold imports rose by 54% to $3.97 billion in April.

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