New Delhi, May 15
India’s export growth slid to a four-month low of 0.64% in April as shipments of engineering goods, gems and jewellery, leather and other products declined, widening the trade deficit to a five-month high, data released on Wednesday showed.
Imports increased by 4.5%, the highest growth in the past six months as crude oil and gold shipments shot up in the month.
Merchandise exports stood at $26 billion in April while imports at $41.4 billion, leading to a trade gap of $15.33 billion, the widest deficit since November 2018, the trade data showed.
The country’s merchandise exports were down because of the negative growth in key sectors such as engineering, gems and jewellery, leather, carpet, plastic, marine products, rice and coffee during the month under review. Previously, exports had recorded a low growth rate of 0.34 per cent in December 2018.
Oil imports grew by 9.26% to $11.38 billion and non-oil imports expanded by 2.78%. Gold imports rose by 54% to $3.97 billion in April. — PTI
from The Tribune http://bit.ly/2WK5mS8
via Today’s News Headlines
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