India’s May exports rise by 8%

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New Delhi, June 15 (IANS) India’s exports rose by 8.32 per cent during May 2017, official data showed on Thursday.

Exports grew by 8.32 per cent to $24.01 billion from $22.17 billion worth of merchandise shipped out during May 2016, according to the data released by the Ministry of Commerce and Industry.

“Exports have been exhibiting positive growth for the last eight months. In continuation with growth indicated by exports since September 2016, exports during May 2017 have shown growth of 8.32 per cent in dollar terms,” the ministry said in a statement.

“Non-petroleum and non-gems and jewellery exports in May 2017 were valued at $17,514.36 million against $16,404.31 million in May 2016, an increase of 6.77 per cent.”

However, the country’s imports during the month under review also increased by 33.09 per cent to $37.85 billion. India’s oil imports during last month increased by 29.54 per cent to $7.69 billion.

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