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Growth in India’s export by 8%

India’s exports grew by 8.32 per cent to $ 24.01 billion in May, mainly on account of robust performance by sectors like petroleum, chemicals, engineering goods as well as gems and jewelry. Imports too jumped 33.09 per cent to $ 37.85 billion last month from $ 28.44 billion in May 2016, according to the data released by the commerce ministry. A huge jump in gold imports pushed up the trade deficit to $ 13.84 billion during the month under review from $ 6.27 billion a year ago. The imports of the precious metal rose 3-fold to $ 4.95 billion in May compared to $ 1.47 billion in the same month last year. Exports in April-May increased by 13.83 per cent to $ 48.64 billion. Imports during the period got up by 40.63 per cent.

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