NEW DELHI(Commodity Online): India's exports declined by 4.16% at us $25.68 bn in May 2012, compared to US $26.79 bn in 2011, according to the data released by Ministry of Commerce in India. India's gold and silver imports exhibited a negative growth of 52% during the month of May 2012, according to the provisional data of the government.
Moreover, India's import data for the month of May 2012 also had a negative growth of 7.36%, reaching to US $41.9 bn.
The cumulative figure for the period of April- May 2012 shows Exports at US $ 50.13 billion registering the negative growth 0.69% of while imports for the same period stood at US $ 79.8 billion registering the growth of 2.42%.
The sectors which performed well in exports includes
-Engineering with a decline of 1.67% to US $4.86%
-POL with negative growth of 26.07% to US $ 4.07 bn
-Gems & Jewellery- with decline of 9% to US $3.6 bn
-Ready made garments exhibiting a decrease of 15.82% to US$1.03 bn.
Among the sectors, Drugs & Pharmaceuticals exhibited a positive growth of 10.55% to US $1.09 bn, comaprted to May 2011.
The growth estimates of the sectors in imports for the month of May 2012 are
-POL-14.02% reaching to US $14.9bn
-Gold& Silver exhibiting a negative growth of 52% reaching to US $4.3 bn
- Machinery declining by 8%
-vegetable oil increased by 54%
-Organic and Inorganic Chemicals increased by 2.74%
- Electrical equipments had declined by 21%
MCX Silver 05 September 2012 contract was trading at Rs 56922 . What's your view on it?
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