| Date: |
15-06-2012 |
| Subject: |
India's exports decline by 4.16% in May |
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NEW DELHI: India's exports declined 4.16 per cent in May to $25.68 billion as against $26.79 billion in the corresponding month of 2011, official data showed on Thursday.
The imports also declined by 7.36 per cent at $41.9 billion as well.
With the decline in imports, the trade deficit narrowed to $16.3 billion during May, from $18.5 billion a year ago.
The declines were mainly witnessed in sectors such as engineering goods (15.67 per cent), gems and jewellery (9 per cent), and readymade garments (15.82 per cent).
As regards to imports during May 2012, gold and silver were down by 52 per cent while electrical equipment registered a decline of 21 per cent.
Earlier this month, the government had announced a number of measures like continuation of interest subvention to boost exports.
Source : economictimes.indiatimes.com
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