India's merchandise exports decreased from last year in the month of May, data released by the Ministry of Commerce and Industry showed Monday.
Goods exports, including re-exports, decreased 1.11 percent on an annual basis to $24.51 billion in May. The value of imports, meanwhile, increased 6.99 percent year-on-year to $44.65 billion.
The net trade for the month resulted in a deficit of $20.14 billion, which was wider than the $16.95 billion shortfall seen in May 2012.
In the April-May period, shipments edged up 0.21 percent from the same period of last year to $48.67 billion. Imports climbed 8.88 percent annually to $86.6 billion during the two-month period.
The balance of trade was a deficit of $37.93 billion in the April-May period, higher than the $30.97 billion deficit recorded a year earlier, data showed.
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