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Trade deficit of India broadens to $24.29 billion in May 2022

Trade deficit of India broadens to $24.29 billion in May 2022
Trade deficit of India broadens to $24.29 billion in May 2022
  • Trade data released by the Ministry of Commerce and Industry showed that India’s May trade deficit widened to $24.29 billion from $6.53 billion a year ago.
  • May’s trade deficit was pushed up by a surge in imports, which rose 62.83% year-on-year to $63.22 billion, while exports rose 20.55% to $38.94 billion.
  • Despite the uncertainty and volatility caused by the war in Europe, the engineering goods exports rose by 12.65 per cent year-on-year to $9.71 billion in May 2022.

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Published date : 16 Jun 2022 06:14PM

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