India's exports down by 20.19% in May 2015

India’s merchandise exports fell for the sixth consecutive month in May 2015, declining by 20.19 percent to $ 22.347 billion in May 2015 from $ 27.998 billion during the same month of the previous year.

An official statement said here today that, in rupee terms, the exports had gone down by 14.14 percent to Rs. 142572.92 crore in May this year from Rs. 166045.09 crore during May 2014.

The cumulative value of exports for the period April-May 2015-16 was $ 44.401 billion (Rs 280973.36 crore) as against $53.632 billion (Rs 320763.69 crore), a decline of 17.21 per cent in dollar terms and 12.40 per cent in rupee terms over the same period last year.

The trade deficit for April-May 2015-16 was estimated at $ 21.398 billion which was higher than the deficit of $ 21.320 billion during the corresponding period of 2014-15.

According to the statement, imports during May 2015 were valued at  $ 32.753 billion (Rs.208965.06 crore) which was 16.52 per cent lower in dollar terms and 10.19 per cent lower in rupee terms  over the level of imports valued at $ 39.233 billion (Rs. 232672.72 crore) in May 2014.

The cumulative value of imports for the period April-May 2015-16  was $65.800 billion (Rs 416345.69 crore) as against $ 74.953 billion (Rs 448266.65 crore) registering a negative growth of 12.21 per cent in dollar terms and 7.12 per cent in rupee terms over the same period last year, it said.

Oil imports during May 2015 were valued at $ 8.539 billion which was 40.97 per cent lower than oil imports valued at $14.465 billion in the corresponding period last year. Oil imports during April-May 2015-16 were valued at $ 15.981 billion which was 41.76 per cent lower than the oil imports of $ 27.443 billion in the corresponding period last year.

Non-oil imports during May 2015 were estimated at $24.214 billion which was 2.24 per cent lower than non-oil imports of $24.768 billion in May 2014. Non-oil imports during April-May 2015-16 were valued at $ 49.818 billion which was 4.86 per cent higher than the level of such imports valued at $ 47.51 billion in April-May 2014-15, the statement added.

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