What's NewIndia's trade deficit widens to a six-month high in May'19 as exports continue to remain low.

India's trade deficit widened to a six-month high of USD 15.36 billion in May'19. The expansion in the trade balance was due to rising imports. While the exports, bounced back with a growth of 3.9% YoY in May'19 compared to 0.69% YoY in the last month, the pace of growth was slower than that of imports. The worsening of trade deficit due to imports outpacing exports surely requires immediate government intervention. Although, the weak global economy and increasing protectionism worldwide could further weigh on India's export growth going forward. (June 14, 2019)

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Notes circulation is India rose to 11.4% of GDP by end-May'19, steadily surging back to pre-demonetization level.

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Despite easing crude oil prices, Indian currency weakens to 69.8 against USD by end-May'19.

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