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

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 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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