New Delhi: India’s merchandise exports rose 23.52 per cent to USD 40.13 billion in June, while the trade deficit hit a record high of USD 26.18 billion, according to government data released on Thursday. The data showed that imports grew 57.55 per cent to $66.31 billion in June.
The trade deficit stood at US$ 9.60 billion in June 2021. (Also Read: Tata Consumer Products Enters Honey & Preserve Segment With Himalayan Brand)
Cumulative exports grew by about 24.51 per cent to US$ 118.96 billion in April-June 2022-23, while imports grew by 49.47 per cent to US$ 189.76 billion during the period. (Also read: Need for mixed finance, leveraging private capital to achieve SDGs: FM Sitharaman)
The trade deficit widened to $70.80 billion during the first three months of the current fiscal, from $31.42 billion in the year-ago period.