Exports growth slows to 18% in May

Amid concerns over the rising rupee value, exports growth slowed down to 18.07% in May this year at $11.86 billion.

Imports rose 26.36% to $18.07 billion, leaving a trade deficit of $6 billion, according to official data released here today.

The exports growth in May was lower than the April figure of 23.06%.

Oil imports dropped 2.99% to $4.74 billion in May this fiscal from $4.88 billion in the same month of the previous year.

Fuelled by fast economic growth, non-oil imports went up a robust 41.58 % to $13.33 billion as against $9.42 billion in May 2006.