Exports up 15.46% to USD 37.3 billion in May; trade deficit widens to USD 23.33 billion

New Delhi: India’s merchandise exports rose by 15.46 per cent to USD 37.29 billion in May on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as the trade deficit widened to USD 23.33 billion during the month, the commerce ministry said Thursday.

Imports during the month too grew by 56.14 per cent to USD 60.62 billion.

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The trade deficit in May 2021 stood at USD 6.53 billion.

“India’s merchandise export in April – May 2022-23 was USD 77.08 billion with an increase of 22.26 per cent over USD 63.05 billion in April -May 2021-22,” it said.

Petroleum and crude oil imports during May 2022 surged by 91.6 per cent to USD 18.14 billion.

Coal, coke and briquettes imports jumped to USD 5.33 billion, as against USD 2 billion in May 2021.

Gold imports increased to USD 5.82 billion during the month under review, from USD 677 million in May 2021.

PTI