Continuing its declining trend, India export has narrowed to USD 22.34 billion in May in comparison to USD 22.05 billion month on month basis, registering a contraction for sixth straight month.
Meanwhile, India’s export an year ago in May 2014 stood at USD 27.99 billion, which is 20.19 per cent lower in dollar terms.
However, the imports during the period stood at USD 32.75 billion against USD 33.05 billion month-on-month basis.
The trade deficit narrowed to USD 10.41 billion in May, from USD 10.99 billion in April. The trade deficit was at USD 11.2 billion in May a year ago.
Whereas, Year on Year basis, India’s trade deficit for April-May, 2015-16 was estimated at USD 21.39 billion which was higher than the deficit of USD 21.32 billion during April-May, 2014-15.
The post USDINR Update appeared first on Live Trading News.