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May exports down 4.16 pct y/y at $25.68 bln - govt
July 2, 2012 / 5:01 AM / 5 years ago

May exports down 4.16 pct y/y at $25.68 bln - govt

NEW DELHI (Reuters) - India’s exports fell 4.16 percent year-on-year to $25.68 billion in May, while imports fell 7.36 percent year-on-year to $41.9 billion, government data showed on Monday.

A worker climbs a container to release the crane clamp after it was loaded onto a supply truck at Thar Dry Port in Sanand, in Gujarat October 3, 2011. REUTERS/Amit Dave/Files

May’s trade deficit was $16.3 billion, while oil imports rose 14.02 percent year-on-year to $14.99 billion, data showed.

Exports from April to May were at $50.14 billion.

Indian exports increased by more than 20 percent to $303.7 billion in the last fiscal year. But a slowdown in major export destinations hit by financial turbulence especially in Europe has slashed demand for Indian goods, officials say.

Reporting by Matthias Williams; Editing by Rajesh Kumar Singh

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