Trade deficit widens to 4-month high of $14.62 bn in May, imports surge 15%

Representative Image

India's trade deficit widened to four-month high of $USD 14.62 billion in May as imports surged nearly 15 per cent, the government said Friday.

Commerce Minister Suresh Prabhu said exports in May rose by 28.18 per cent to $28.86 billion while imports were up 14.85 per cent to $43.48 billion.

Trade deficit widened to $14.62 billion from $13.84 billion in May 2017.

Oil imports were up 49.46 per cent to $11.5 billion on back of surge in international crude prices.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel