In May 2024, India's merchandise trade deficit increased to $23.78bn, driven by 9% rise in exports and 7.7% increase in imports.
India's merchandise trade deficit widened to $23.78bn in May 2024, up from $19.1bn in April and $22.1bn in the same month last year. Merchandise exports rose 9% to $38.13bn, driven by increased shipments of engineering goods, commercial vehicles, and smartphones. Imports increased 7.7% to $61.91bn. The widened deficit is slightly lower than economists' expectations of $19.5bn, according to a Reuters poll.
June 14, 2024
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