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, June 15, 2022.
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.