The commerce ministry has called a meeting of exporters on Monday to take stock of the situation, as the country s outbound shipments have been contracting for the last four months, an official said. Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to USD 34.98 billion in May, while the trade deficit widened to a five-month high of USD 22.12 billion, according to the ministry data.
Cumulatively, exports during April-May this fiscal contracted by 11.41% to $69.72 billion, while imports declined 10.24% to $107 billion. Demand slowdown in major markets, high inflation in developed economies and the Russia-Ukraine war are impacting the country s exports.
The commerce ministry has called a meeting of exporters on Monday to take stock of the situation, as the country's outbound shipments have been contracting for the last four months, an official said.
Declining exports: Commerce Ministry to meet exporters on Monday dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
The commerce ministry has called a meeting of exporters on Monday to take stock of the situation, as the country’s outbound shipments have been contracting for the last four months, an official said.
Exporters are expected to flag issues like extending greater support to participate in global