India's May merchandise exports up 4%, imports rise 4.31%

India's merchandise exports rose 3.93 per cent on a year-on-year basis in May to $29.99 billion from $28.86 billion reported for the corresponding month of last year, official data showed on Friday.

As per the data furnished by the Ministry of Commerce and Industry, electronic goods, organic and inorganic chemicals, drugs and pharmaceuticals and engineering goods showed high export growth during the month under review.

"Non-petroleum and non-gems and jewellery exports in May 2019 were $21.42 billion as compared to $19.94 billion in May 2018, exhibiting a positive growth of 7.42 per cent," the ministry said.

On the other hand, imports grew by 4.31 per cent to $45.35 billion in May from $43.48 billion reported for the corresponding month of 2018.

Oil imports in May were $12.44 billion, which was 8.23 per cent higher in dollar terms, compared to $11.50 billion in May 2018.

"Non-oil imports in May 2019 were estimated at $32.91 billion which was 2.90 per cent in dollar terms, compared to $31.98 billion in May 2018," the ministry said. IANS