May exports up 69% to $32 bn; trade deficit at 8-month low

Merchandise exports in May increased by 69.35% from a year ago to $32.27 billion, driven by growth in the engineering, petroleum, and gems and jewellery sectors, revised trade data released by the commerce and industry ministry on Tuesday showed.
The trade deficit in goods stood at $6.28 billion, the lowest in eight months. The trade deficit was $15.10 billion in April and $3.15 billion in May 2020. Imports in May were up 73.64% year-on-year to $38.55 billion, data showed.