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  4. India's May merchandise exports up 4%, imports rise 4.31%

India's May merchandise exports up 4%, imports rise 4.31%

As per the data furnished by the Ministry of Commerce and Industry, electronic goods, organic and inorganic chemicals, drugs and pharmaceuticals and engineering goods showed high export growth during the month under review.

IANS IANS
New Delhi Published on: June 14, 2019 20:50 IST
India's merchandise exports rose 3.93 percent on a
Image Source : PTI

India's merchandise exports rose 3.93 percent on a year-on-year basis.

India's merchandise exports rose 3.93 percent on a year-on-year basis in May to $29.99 billion from $28.86 billion reported for the corresponding month of last year, official data showed on Friday.

As per the data furnished by the Ministry of Commerce and Industry, electronic goods, organic and inorganic chemicals, drugs and pharmaceuticals and engineering goods showed high export growth during the month under review.

"Non-petroleum and non-gems and jewellery exports in May 2019 were $21.42 billion as compared to $19.94 billion in May 2018, exhibiting a positive growth of 7.42 percent," the ministry said.

On the other hand, imports grew by 4.31 percent to $45.35 billion in May from $43.48 billion reported for the corresponding month of 2018.

Oil imports in May were $12.44 billion, which was 8.23 percent higher in dollar terms, compared to $11.50 billion in May 2018.

"Non-oil imports in May 2019 were estimated at $32.91 billion which was 2.90 percent in dollar terms, compared to $31.98 billion in May 2018," the ministry said.

Also Read: India plans 25 pc cut in oil imports from Iran over Farzad-B gas field row

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