Trade Monitor - India's Trade Deficit For May Falls To Eight-Month Low Of $6.3 Billion: ICICI Securities
Containers at Port. (Photographer: SeongJoon Cho/Bloomberg)

Trade Monitor - India's Trade Deficit For May Falls To Eight-Month Low Of $6.3 Billion: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

India’s trade deficit for May 2021 fell to eight-month low of $6.28 billion, more than halving from $15 billion in April 2021 but doubling from $3.15 billion twelve months ago.

In year-on-year terms, faster growth in imports (74% YoY) compared to exports (69% YoY) led to the increase in trade deficit.

However, in sequential terms, imports fell 15.7% while exports increased 5.4% leading to narrowing of trade deficit.

The sharp double-digit growth in imports and exports in the past two to three months is because of low base effect.

However, in value terms while imports are slowly reverting to their pre-pandemic mean, exports have surpassed pre-pandemic monthly average.

Click on the attachment to read the full report:

ICICI Securities Trade Monitor Jun21.pdf

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