India’s imports from Iraq rose 58.68 per cent to USD 3.76 billion in May, while from the UAE, the country’s inbound shipments increased by about 50 per cent during the month, according to the commerce ministry data. Similarly from Russia, the imports rose by 18 per cent to USD 7.1 billion on account of oil imports.
The data showed that the inbound shipments from China during the month were 2.82 per cent higher at USD 8.48 billion.
Among the top 20 import source nations of India, imports from Saudi Arabia, Switzerland, Japan, Germany, Hong Kong, Australia and Malaysia recorded negative growth in May.
On the export front, India’s exports to South Africa, Italy, Nepal, Belgium and Australia recorded a negative growth rate during the month under review.
However, exports to the US, the UAE, the Netherlands, the UK, Singapore and Saudi Arabia have recorded positive growth.
The outbound shipments to China rose by 3.35 per cent to USD 1.32 billion in the last month.
India’s overall merchandise exports rose by 9 per cent to USD 38.13 billion in May.