Exports up 3.93% in May, trade deficit widens

NEW DELHI: India’s exports grew by 3.93% to $30 billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering, according to a Commerce Ministry data released on Friday. Imports too rose by 4.31% to $45.35 billion, widening the trade deficit to $15.36 billion in May. The deficit, the difference between exports and imports, was $14.62 billion in May 2018. Oil imports rose by 8.23% to $12.44 billion and non-oil imports expanded by 2.9% to $32.91 billion during the month under review.  PTI