India’s trade deficit hits 8-month low
The Hindu
Exports rise 67% in May 2021
India exported merchandise worth $32.21 billion in May 2021, 67% higher on a year-on-year basis and nearly 8% over May 2019’s pre-pandemic numbers. The country’s merchandise trade deficit shrank to an eight-month low, as imports over the month amounted to $38.53 billion, 68.54% over May 2020 and 17.47% lower than May 2019. Major sectors that saw a spurt in exports in May, compared to the pre-COVID times, included cereals, iron ore, cotton yarn and handloom products, jute, rice and ceramics. However, leather, tea, readymade garments, oil seeds, handicrafts and gems and jewellery, saw a significant dip over the same period.
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