(MENAFN) India's exports continued a downward trend in May, narrowing to USD22.34 billion compared to USD22.05 billion on-month and dropping for six straight months, KNN India reported.
Meanwhile, India's exports in May 2014 stood at USD27.99 billion, which marked a 20.19 percent drop, while imports stood at USD32.75 billion compared to USD33.05 billion on-month.
The trade deficit narrowed to USD10.41 billion in May, from USD10.99 billion registered in April. Meanwhile, the trade deficit was at USD11.2 billion in May a year ago.
Whereas, Year on Year basis, India's trade deficit for April-May, 2015-16 was estimated at USD21.39 billion, which was higher than the deficit of USD21.32 billion during April-May 2014-15.
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