India's Exports Surge In May
2011-07-01 17:05:37
India's exports logged an annual increase of 56.93 percent in May, the Ministry of Commerce said Friday. Exports totaled $25.94 billion, compared to $16.53 billion in the same period of previous year.
At the same time, the increase in imports was 54.08 percent. Imports were valued at $40.91 billion. Oil imports in May totaled $10.16 billion, up 18.57 percent from the previous year.
The trade balance showed a deficit of $14.9 billion in May, up from $10 billion shortfall a year ago.
The cumulative trade deficit for April and May widened to $23.95 billion from $21.04 billion logged during the same period of last year.