India's trade deficit zooms to over $11 billion in May

India exported goods and services valued at $16.15 billion (Rs73,964 crore) and imported goods and services valued at $27.437 billion (Rs125,694 crore) in May 2010, registering a trade deficit of $11.29 billion (Rs51,730 crore) for the month.

During April-May 2010, the first two months of the financial year, the country exported goods and services worth $33.03 billion (Rs149,111 crore) while cumulative value of imports for April-May 2010 stood at $54.75 billion (Rs247,211 crore), recording an increase of $21.71 billion (Rs125,100 crore).

India's trade deficit rose to an estimated $21.71 billion during the first two months of the current financial year (April-May 2010) compared with the deficit of $14.51 billion during April-May 2009.

India exported goods and services valued at $16.15 billion (Rs73,964 crore) in May 2010, which was up 35.1 per cent in dollar terms and up 27.5 per cent in rupee terms compared with exports worth $11.95 billion (Rs58,005 crore) during May 2009.

Cumulative value of exports for the April-May 2010 period stood at $33.03 billion (Rs149,111 crore) up 35.7 per cent in dollar terms and up 24.2 per cent in rupee terms compared with $24.35 billion (Rs120,069 crore) in the same period last year.

Imports into the country during May 2010 were valued at $27.44 billion (Rs125,694 crore), representing a growth of 38.5 per cent in dollar terms and 30.8 per cent in rupee terms over the level of imports valued at $19.81 billion (Rs96,125 crore) in May 2009.