In May, exports down but imports up
Posted on: 18/Jun/2013 2:59:38 PM - No. of views : (1800)
After being on a high for four consecutive months, exports from India went down by 1.1 per cent in May. Imports, however, went up by 7 per cent in the month.
Says Commerce Secretary S.R. Rao, �As far as trade deficit is concerned, it is very worrisome. It is largely contributed by heavy imports of gold and silver� Decline in exports was also due to the steps taken by the government to restrict gold trading in special economic zones (SEZs). Gold exports from SEZs in May declined by $0.8 billion. Gold trading in SEZs is hitting India�s exports. Hopefully from June, exports will bounce back as gold trading activities have started in SEZs.�
