India’s exports grew by 67.39 per cent to $32.21 billion in May, driven by healthy growth in sectors such as engineering, pharmaceutical, petroleum products and chemicals, according to government data released on Wednesday. Exports in May last year had stood at $19.24 billion, and in May 2019, they were $29.85 billion, the Commerce Ministry’s preliminary data showed. Imports in May rose by 68.54 per cent to $38.53 billion from $22.86 billion in May 2020. In May 2019, imports had stood at $46.68 billion.

“India is thus a net importer in May 2021 with a trade deficit of $6.32 billion, an increase of 74.69 per cent over trade deficit of $3.62 billion in May 2020 and reduction by 62.49 per cent over trade deficit of $16.84 billion in May 2019,” the ministry said. Oil imports during the month under review rose to $9.45 billion as compared to $3.57 billion in May 2020. In May 2019, they had stood at $12.59 billion. 

Exports during April-May period this year jumped to $62.84 billion as against $29.6 billion in the same period last year. It was $55.88 billion in April-May 2019, the data showed. Imports during the April-May 2021 period were $84.25 billion, an increase from $39.98 billion in April-May 2020. In April-May 2019, they had stood at $89.07 billion.