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Exports go up by eight per cent at 24 billion us dollars in May

India's exports grew by 8.32 per cent to 24.01 billion US Dollars in May 2017 due to robust performance by sectors like Petroleum, Chemicals, Engineering goods and Jems and Jewellery.

Imports too went up by 33 per cent to 37.85 billion US dollars last month from 28.44 billion US Dollars 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 US Dollars during the month under review as against 6.27 billion us dollars the same period last year. The imports of precious metals rose three fold to 4.96 billion US Dollars in May compared to1.47 billion US Dollars the same month last year.

The exporters are of the view that the time support given by the government will help in giving further fillip to the growth trend. Challenges like currency appreciation and protectionism should also be dealt with by the government said the Federation of Indian Exports Organisation in a statement.

 

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