Export Stood at US $ 25.68 Billion in May 2012 Trade Deficit Contracts in May
India’s exports for the month of May 2012 registered a decline of (-) 4.16%, at US $ 25.68 billion compared to May 2011 when it stood at US $ 26.79 billion. During May 2012, the imports were US $ 41.9 billion with a negative growth of (-) 7.36%. Balance of Trade stood at US $ (-) 16.3 billion during the same period.
During May 2012, the following sectors have done well with regard to exports - engineering (US $ 4.86 billion) which registered the growth of (-) 15.67%; (-) POL registering the growth of (-) 26.07% to the tune of US $ 4.07 billion; Gems & Jewellery registered (-) 9% to US $ 3.6 billion; Drugs and pharmaceuticals 10.55% (US $ 1.09 billion); Readymade garments (-) 15.82% (US $ 1.03 billion)
As regards to imports during May 2012, the growth estimates on the following sectors are: POL, 14.02% (US $ 14.9 billion); Gold and silver (-) 52% (US $ 4.3 billion); machinery, (-) 8% , vegetable oil 54% (US $ 1.08 billion); Organic & inorganic Chemicals registered the growth 2.74%. Electricals equipments registered the negative growth of (-) 21%.
The trade figures were released by the department of commerce in a media interaction today. Figures for the month of May 2012 are provisional and subject to change.
Source : Press Information Bureau Government of India Ministry of Commerce & Industry
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