India’s trade deficit widened to a five-month high in April due to rise in crude oil imports coupled with muted growth in export amid rising concerns over US-China trade war, government data showed.
The trade deficit, a gap between exports and imports, expanded to US$15.33bn in April 2019 as compared to US$13.72bn in April 2018 and US$10.89bn last month, according to data release from the Ministry of Commerce.
Merchandise exports inched up by 0.64 per cent year-on-year to US$26.07bn in April, while imports rose by 4.48 per cent to US$41.4bn compared to the same month last year.