March 23, 2023

Trade Deficit in May 2021: Trade deficit widened to $6.28 billion final month

The nation’s commerce deficit in items widened to $6.28 billion in May 2021, from $3.15 billion in the course of the corresponding interval final 12 months, in keeping with authorities information launched on Tuesday, June 15. Merchandise exports jumped 69.35 per cent in May from a 12 months earlier to $32.27 billion, whereas imports have been up 73.64 per cent to $38.55 billion, confirmed international commerce information launched by the Ministry of Commerce. (Also Read: Exports Jump 3-Fold To $30.63 Billion In April, Trade Deficit Widens To $15.10 Billion )

In May 2020, the commerce deficit stood at $3.15 billion. According to authorities information, exports in May 2021 stood at $32.27 billion, in comparison with $19.05 billion in the identical month final 12 months, registering a progress of 69.35 per cent. The progress in exports was pushed by sectors resembling engineering, petroleum merchandise, and gems and jewelry.

Imports additionally grew final month by 73.64 per cent to $38.55 billion, from $222 billion within the corresponding month a 12 months in the past. While in May 2019, imports stood at $ 46.68 billion. 

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