India's trade deficit narrows to $3.15 billion in may .

suman
suman
9:24 AM


DELHI : The month of May India's trade deficit narrows to $3.15 billion . This trade deficit is good for indian economy . So first question is what is trade deficit -

It is the difference between the value of one nations exports and imports over a time period.

Now in may ,Indians trade deficit narrowed to $3.15 from $15.36 billion in previous year.
Export in the same time stood at $19.05 billion, where imports $22.2 billion. The trade deficit was at $6.76 billion last month .

REASON 

Oil imports stood at USD 3.49 billion in may 71.98% lower compared to USD 12.44 billion inthe same month last year. Gold import is also down USD 76.31 MILLION.
Except for iron one drugs and pharmaceuticals, spices and rice which registered va growth of 103.04% ,17.32%,10.55% and 7.64% respectively. All other commodity groups have negative growth in the manth may.