Contracting for the third straight month, India's exports shrank 36.47% in May to US $19.05 billion, the data released by the government showed on Monday.
A significant decline was witnessed in shipments by key sectors like engineering, petroleum and textiles on weak global demand due to COVID-19. While the exports in dollar terms were $ 19.05 billion, it was Rs 1,44,166.01 crore in rupee terms, registering a negative growth of 31.11%. In comparison, exports in May 2019 was US $29.99 billion or Rs 2,09,280.62 crore.