India’s May exports rise 56.93 percent

July 1st, 2011 - 2:33 pm ICT by IANS  

New Delhi, July 1 (IANS) India’s exports in May grew a whopping 56.93 percent at $25.94 billion compared to $16.53 billion in the like month of 2010, according to official data released Friday.

Cumulative exports in April-May were at $49.79 billion as against $34.27 billion in the two months of 2010, registering a growth of 45.28 percent, data released by the commerce and industry ministry showed.

May imports rose 54.08 percent to $40.9 billion over imports in May 2010 at $26.54 billion. Cumulative imports in April-May were at $73.74 billion.

Trade deficit for May stood at $14.96 billion and for the first two months of the current fiscal at $23.95 billion

Oil imports during May were valued at $10.16 billion which was 18.57 percent higher than such imports at $8.57 billion in the corresponding period last year.

Non-oil imports during May 2011 were estimated at $30.745 billion, 71 percent higher compared to $17.97 billion in May 2010.

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