Amid demand slowdown in
the Western markets, India's May exports declined by 4.16 per cent to
USD 25.68 billion. The exports had totalled USD 26.7 billion in the same
month last year
Besides, signalling a slowdown in the domestic market, the imports
declined as well by 7.36 per cent to USD 41.9 per cent in May 2012 from
USD 45.2 billion year-on-year.
With sharp decline in imports, the trade deficit in May has shrunk to
USD 16.3 billion, from USD 18.5 billion year-on-year.
After crossing the USD 300 billion mark last fiscal, India is looking at
an export figure of over USD 360 billion in 2012-13.
Exports in April were USD 24.4 billion. The overseas shipments in
April-May of 2012-13 now total 50.13 billion, as against 50.48 in the
same period last fiscal. Cummulative imports during the first two months
of this fiscal were USD 79.8 billion, down 2.42 per cent from USD 81.87
billion in the same period of 2011-12.