You are here: Home » Reuters » News
Business Standard

India's trade deficit widens to more than 5-year high in June

Reuters  |  NEW DELHI 

By Neha Dasgupta and Nidhi VermaNEW DELHI (Reuters) - India's trade deficit widened to its highest in more than five years in June, the trade ministry said on Friday, driven largely by a surge in oil prices and a weaker rupee.Though merchandise exports rose 17.57 percent year-on-year in June, the trade deficit widened to $16.6 billion from $14.62 billion in May. Oil imports rose 56.61 percent to $12.73 billion.The oil import bill of India, the world's third biggest crude importer, rose sharply with global oil prices amid concerns that U.S. sanctions against Iran would remove a substantial ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, July 13 2018. 19:41 IST