Trade deficit widens to $23.33 billion in May
New Delhi:
India’s merchandise exports rose 15.46% to $37.29 billion in May on strong performance in sectors such as petroleum products, electronics and chemicals, even as the trade deficit widened. $23.33 billion for the month, the Commerce Department said on Thursday.
Imports in the month also increased by 56.14% to 60.62 billion USD.
The May 2021 trade deficit stands at $6.53 billion.
“India’s merchandise exports for April-May 2022-23 were $77.08 billion with an increase of 22.26% from $63.05 billion in April-May 2021-22. “, it said.
Oil and crude oil imports in May 2022 increased by 91.6% to $18.14 billion.
Coal, coke and briquette imports increased to $5.33 billion, compared with $2 billion in May 2021.
Gold imports rose to $5.82 billion in the month under review, from $677 million in May 2021.
