New Delhi: India's exports fell 4.16% on-year to $25.7 billion in May, the government's provisional trade data released Thursday showed.
The country's imports also declined 7.36% on-year to $41.9 billion in May, with the trade deficit working out to $16.3 billion for the month, the data said.
During May, exports of engineering goods fell 15.67% to $4.86 billion; petroleum, oil and lubricants (POL) fell 26.07% to $4.07 billion; gems and jewellery fell 9% to $3.6 billion; and readymade garments fell 15.82% to $1.03 billion.
Exports of drugs and pharmaceuticals registered a growth of 10.55% to $1.09 billion during the month.
On the imports front, imports of POL rose 14.02% to $14.9 billion; vegetable oil grew 54% to $1.08 billion; and organic and inorganic chemicals rose 2.74%.
However, imports of gold and silver fell 52% to $4.3 billion during the month, while imports of machinery and electricals equipment also dropped in May.
The cumulative export for the April- May period of fiscal 2012-13 was at $50.13 billion down 0.69%, while total imports during the two months shrank 2.42% to $79.8 billion.
India's exports for the full fiscal year 2011-12, grew 20.94% on-year to $303.71 billion, while imports increased 32.15% on-year to $488.64 billion.