Coal news and updates

India’s trade deficit fall 42% y-o-y in May

June 11: India’s trade deficit for the month of May, 2014, dropped 42.01% to $11,234.74 million compared to $ 19,373.95 million in the same month a year ago, as exports grew sharpest in last six months, while imports declined, according to an official release by the Ministry of Commerce and Industry.

On a month-on-month basis, however, India’s trade deficit for May, 2014, widened by almost 11% compared to $10,085.95 million in April 2014.

The trade deficit for the first two months of the current financial year (2014-15) was estimated at $ 21,320.69 million which was lower than the deficit of $ 37,046.05 million during  the same period of last fiscal (April-May, 2013-14).

Exports, including re-exports, during May were valued at $ 27,998.50 million (Rs 166,045.09 crore) which was up 12.40% in US dollar terms (21.17 % in rupee terms) than the level of $ 24,910.59 million (Rs 137,035.13 crore) during May, 2013.

Cumulative value of exports for the period April-May 2014-15 was $ 53,632.58 million (Rs 320,763.69 crore) as against $49,264.36 million (Rs 269,460.46 crore) registering a growth of 8.87% in dollar terms and 19.04% in rupee terms over the same period last year.

Imports during May, 2014 were valued at $ 39,233.24 million (Rs 232,672.72 crore) representing a decline 11.41% in dollar terms and 4.49%  in rupee terms  over the import level of $ 44,284.54 million  or Rs 243,612.77 crore in May,2013.

Cumulative value of imports for the period April-May 2014-15 was $ 74,953.27 million (Rs 448,266.65 crore) as against $ 86,310.41 million (Rs 472,131.36 crore) registering a negative growth of 13.16% in dollar terms and negative growth of 5.05% in rupee terms over the same period last year.