Press Information Bureau

Government of India

Ministry of Commerce & Industry

14-June-2012 16:23 IST

Export Stood at US $ 25.68 Billion in May 2012

Trade Deficit Contracts in May

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.

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DS

Trade deficit contraction: exports fell while imports declined more, narrowing India's merchandise trade gap. India's merchandise trade in May 2012 showed exports declining year over year and imports declining by a larger margin, narrowing the negative Balance of Trade; April-May cumulative exports registered slight negative growth while imports contracted modestly. Sectoral shifts included declines in engineering goods and readymade garments, positive growth in drugs and pharmaceuticals, rising mineral oil imports, a sharp fall in gold and silver imports, and growth in vegetable oils and certain chemicals. The figures are provisional and subject to revision.