Exports jump 9% YoY amid demand revival in key markets; trade deficit at 7-month high

News Snapshot:

Driven by demand revival in India’s traditional exports markets such as Europe and the United States (US), India’s goods exports in May logged a sharp 9 per cent year-on-year jump, even as country’s trade gap swelled to a seven-month high of $24 billion due to higher oil imports, as per data released by the commerce and industry ministry on Friday. New Delhi’s goods exports in May jumped 9.10 per cent to $38.13 billion in May from $34.96 billion the year-ago month. The growth was led by electronics, petroleum, and engineering goods. Meanwhile, imports rose at a relatively slower pace of...