Trade deficit for May 2015 slims to $10.4 billion. Here’s what it means
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The trade deficit for May has shrunk to $10.4 billion. It is marginally lower that of April 2015. Low
Here are the key findings from what the figures say:
Imports are down too
Imports have deflated 16.5% versus the April 2015 figure. Imports have shriveled in the past six months.
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Exports are sliding as of May. The figure has shrunk to 20%. Exports have averaged a 17.3% decrease in the past four months. This is due to the lagged impact of low oil prices.
Non-oil growth have turned negative
Non-oil imports have turned negative (-2.2%) in May. That’s the first time since August 2014. Gold imports are also in a three month low of $2.4 billion as of May 2015.
Oil imports are in single digits
Oil imports are limited in single digits for the 5th consecutive month. Oil imports are pegged at $8.5 billion as of May 2015.
Services trade surplus has fallen still
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The trade surplus has fallen to $5.7 billion in April 2015. The figure has fallen to an eight-month-low. Trade-deficit figures have stabilized
The trade deficit for May has gone down to a three month low $10.4 billion.
(Image credit: Indiatimes)
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