Steep rise in gold imports pushes India’s trade deficit to 7-month high

India’s trade deficit jumped to a 7-month high of more than $20 billion in May as gold and silver imports surged nearly 90 per cent year-on-year in the month, provisional data revealed on Monday. The steep rise in gold and silver imports pushed the country’s trade deficit to $20.14 billion in May, from $17.8 billion in April. The annual rate of gold imports increase in May was however slower than the 138 per cent rise in April. read more

India’s trade deficit jumped to a 7-month high of more than $20 billion in May as gold and silver imports surged nearly 90 per cent year-on-year in the month, provisional data revealed on Monday. The steep rise in gold and silver imports pushed the country’s trade deficit to $20.14 billion in May, from $17.8 billion in April. The annual rate of gold imports increase in May was however slower than the 138 per cent rise in April. read more

[via Stock Watch – Stock Specific News]

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