India’s exports grew by 8.32 per cent to $24.01 billion in May, mainly on account of robust performance by sectors like petroleum, chemicals, engineering goods as well as gems and jewellery.
Imports too jumped 33.09 per cent to $37.85 billion last month from $28.44 billion in May 2016, according to the data released by the Commerce Ministry.
A huge jump in gold imports pushed up the trade deficit to $13.84 billion during the month under review from $6.27 billion a year ago.
The imports of the precious metal rose 3-fold to $4.95 billion in May compared with $1.47 billion in the same month last year.
Exports in April-May increased by 13.83 per cent to $48.64 billion. Imports during the period up by 40.63 per cent.