Exports rise 16.78% to $37.94 billion in June; trade deficit at record $25.63 billion

NEW DELHI: India’s merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion whereas the commerce deficit ballooned to a report $25.63 billion, in accordance with the federal government’s preliminary information launched on Monday.
Imports expanded by 51 per cent to $63.58 billion in June in comparison with the year-ago month, the info confirmed.
The commerce deficit stood at $9.61 billion in June 2021.
Cumulative exports in April-June 2022-23 rose by about 22.22 per cent to $116.77 billion whereas imports elevated 47.31 per cent to $187.02 billion through the interval.
The commerce deficit through the first three months of this fiscal widened to $70.25 billion from $31.42 billion within the year-ago interval.