India's trade deficit widens to two-and-a-half year high in May

India's trade deficit widened to $13.84 billion in May on higher gold imports compared to $13.25 billion in April.

Published: 15th June 2017 07:40 PM  |   Last Updated: 15th June 2017 07:40 PM   |  A+A-

A mobile crane carries a container at Thar Dry Port in Sanand in Gujarat, India, February 13, 2017. Picture taken February 13, 2017. (File | Reuters)

By Reuters

Delhi: India's trade deficit further widened to $13.84 billion in May, its highest in two-and-a-half years, on higher gold imports, government data showed on Thursday.

The deficit was $13.25 billion in April.

Gold imports surged to nearly $5 billion from $3.85 billion a month ago. Year-on-year, the import of the precious metal more than trebled.

Merchandise exports for May came in at $24.01 billion, up 8.32 percent from a year ago. Goods imports for the month were $37.86 billion, a gain of 33.09 percent from the same period last year, data from the commerce and industry ministry showed.

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