EXPORT STOOD AT US dollar 25 dot 68 BILLION IN MAY 2012 TRADE DEFICIT CONTRACTS IN MAY
Date : 14 Jun 2012
Location : New Delhi
India’s exports for the month of May 2012 registered a decline of (-) 4.16%, at US $ 25.68 billion compared to May 2011 when it stood at US $ 26.79 billion. During May 2012, the imports were US $ 41.9 billion with a negative growth of (-) 7.36%. Balance of Trade stood at US $ (-) 16.3 billion during the same period. The cumulative figure for the period of April- May 2012 shows Exports at US $ 50.13 billion registering the negative growth of (-0.69%); while imports for the same period stood at US $ 79.8 billion registering the growth of (-) 2.42%.
During May 2012, the following sectors have done well with regard to exports - engineering (US $ 4.86 billion) which registered the growth of (-) 15.67%; (-) POL registering the growth of (-) 26.07% to the tune of US $ 4.07 billion; Gems & Jewellery registered (-) 9% to US $ 3.6 billion; Drugs and pharmaceuticals 10.55% (US $ 1.09 billion); Readymade garments (-) 15.82% (US $ 1.03 billion)
As regards to imports during May 2012, the growth estimates on the following sectors are: POL, 14.02% (US $ 14.9 billion); Gold and silver (-) 52% (US $ 4.3 billion); machinery, (-) 8% , vegetable oil 54% (US $ 1.08 billion); Organic & inorganic Chemicals registered the growth 2.74%. Electricals equipments registered the negative growth of (-) 21%.
The trade figures were released by the department of commerce in a media interaction today. Figures for the month of May 2012 are provisional and subject to change.