Exports rise 20.55% to $38.94 billion in May; trade deficit at record $24.29 billion

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NEW DELHI: India’s merchandise exports in May rose by 20.55 per cent to $38.94 billion, while the trade deficit ballooned to a record $24.29 billion, according to the government data released on Wednesday. Imports during May 2022 grew by 62.83 per cent to $63.22 billion, the data showed.
The trade deficit stood at $6.53 billion in the same month last year.
Cumulative exports in April-May 2022-23 rose by about 25 per cent to $78.72 billion.
Imports in April-May 2022-23 increased 45.42 per cent to $123.41 billion.
The trade deficit during the first two months of this fiscal widened to $44.69 billion against $21.82 billion in the year-ago period.







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