Covid-19 impact: After 60% fall in April, exports shrink another 36% in May

Trade deficit at only $3.15 Billion as crude, gold imports continue to drop

Exports contracted 36.47 per cent in May after a historic fall in April, even as the lockdown eased and ports cleared cargo. While the government says this offers hopes of recovery, exporters remain doubtful. Exports have now fallen for the third straight month.
 
Except for iron ore, pharmaceuticals, spices, and rice, all other commodities have printed negative growth in May, the commerce department said on Monday. Also, crucial petrochemical exports continued to shrink, falling 68.4 per cent, up from 66 per cent in April. However, policymakers are less worried about the knock-on effects of the current series of major