Trade deficit at 6-month high of $15.4 bn over increasing oil, gold imports

Exports recover to 3.9% in May, up from 0.64% in April

The continuing of high crude and gold imports pushed India’s trade deficit to a six-month high of $15.36 billion in May, even as export growth managed to recover from the rock bottom it had hit in April. 

Higher exports in key sectors, such as engineering goods and textiles, helped overall export growth recover in May to 3.93 per cent, from just 0.64 per cent in April. 

According to data released by the commerce and industry ministry on Friday, exports stood at $29.99 billion in May. Interestingly, hot global crude prices have not led to higher realisations from petroleum receipts, which fell by