Zee Media Bureau
New Delhi: India's trade deficit narrowed to $10.4 billion in May against $11.2 billion in the same month a year ago, according to government data released on Tuesday.
The country's merchandise exports shrank 20.2 percent to $22.35 billion in May, dragged down by a slump in global demand. The imports also fell 16.5 percent to $32.8 billion in May.
The country's gold imports were however increased by 10.4 percent to $2.42 billion in May this year.
In April, the exports shrank by about 14 per cent to $22 billion, the merchandise exports stood at $25.63 billion.
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