14.07.2023–India’s trade deficit falls to $20.13 bn in June from $22.1 bn in May

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Services exports in June were $27.12 billion, while imports were $15.88 billion

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India’s merchandise trade deficit in June fell to $20.13 billion from $22.1 billion in May, the government data released on Friday showed.

Merchandise exports stood at $32.97 billion, while imports were $53.10 billion in June. In the previous month, merchandise exports were $34.98 billion, while imports stood at $57.10 billion.

India’s exports remained weak due to several reasons including a slowdown in the world’s major economies, trade secretary Sunil Barthwal told reporters.

Services exports in June were $27.12 billion, while imports were $15.88 billion. In May, services exports were $25.30 billion and imports were $13.53 billion.

For the April-June period, services and merchandise exports fell 7.3 per cent year-on-year to $182.7 billion, while imports fell 10.2 per cent to $205.29 billion.

(With agency inputs)