India’s May Exports shrink by 4.16%, Trade Deficit at $16.3 billion !

After registering a blip of 3.2% year-on-year growth in exports to $24.4 billion in April 2012; India’s May 2012 Exports shrinked by 4.16% to arrive at $25.68 billion, as compared to $26.7 billion during May 2011.

As expected, India’s woes on the policy paralysis front and trade deficit has strangled the economy into a financial mess, led by economic slowdown and slow pace of reforms in the domestic market.

header thumb India’s February 2012 Exports grew 4.3%, Trade Deficit at $15.2 billion !

However, on a brighter note, India’s May imports declined by 7.36% to $41.9 billion from $45.2 billion year-on-year, offering a ray of hope in bailing out the trade deficit figures of the country.

Not surprisingly, with a steep decline in the rupee’s value against the dollar over the last couple of months, imports have been become expensive, rendering domestic goods more lucrative in terms of price cost competitiveness.

With this, the trade deficit in May has declined to $16.3 billion, from $18.5 billion reported during in the same month last year.

  • India January 2012 Export: $25.35 billion
  • India February 2012 Export: $24.6 billion
  • India March 2012 Export: $28.7 billion
  • India April 2012 Export: $24.4 billion
  • India May 2012 Export: $25.68 billion
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