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The country's exports rose by 8.32 per cent to USD 24 billion in May, even as the trade deficit shot up to nearly 30-month high of USD 13.84 billion, mainly due to increase in gold imports, reported PTI. Strong performance by petroleum, engineering, textiles and gems and jewellery sectors propelled the country's exports growth during the month.
India's exports stood at USD 22.1 billion in the corresponding month a year ago. The total outward shipments had registered a 19.7 per cent growth in April this year. India's imports too increased by 33 per cent to USD 37.85 billion in May this year. Nearly three-fold jump in gold imports at USD 4.95 billion led to widening of trade deficit during the last month.
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