India's merchandise exports continued to suffer a setback this fiscal to register a decline for the second straight month with the value of shipments 29.2 per cent lower at $11.01 billion in May over the same month of last fiscal.

Merchandise exports had dipped 33.2 per cent to $10.74 billion in April, while in May last year, they were valued at $15.55 billion, as per latest data on foreign trade released here Wednesday by the commerce and industry ministry.