Imports surge nearly 15%, trade deficit widens to 4-month high of $14.62 bn

India's trade deficit widened to four month high of USD 14.62 billion in May as imports surged nearly 15 per cent, the government said today.

Commerce Minister Suresh Prabhu said exports in May rose by 28.18 per cent to USD 28.86 billion while imports were up 14.85 per cent to USD 43.48 billion.

Trade deficit widened to USD 14.62 billion from USD 13.84 billion in May 2017.

Oil imports were up 49.46 per cent to USD 11.5 billion on back of surge in international crude prices. 

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Gold imports were up 16.6 per cent to USD 1.18 billion in May.