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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
India’s merchandise exports in the month of May rose by 20.55% to $38.94 billion. Imports grew by 62.83% to $63.22 billion. The trade deficit stood at $6.53 billion on May 2021. Cumulative exports in April-May 2022-23 rose by about 25% to $78.72 billion. Imports in April-May 2022-23 rose 45.42% to $123.41 billion.
Find More News on Economy Here
India’s labour market continued to show signs of strengthening in November 2025, with key employment…
India has emerged as the largest global hub for active users of artificial intelligence (AI)…
India lost one of its greatest artists with the passing away of Ram Vanji Sutar…
Pariksha Pe Charcha (PPC) 2026 has once again attracted massive participation from across the country.…
India and Argentina have taken an important step to deepen their agricultural partnership with the…
For the India’s digital payments ecosystem, Amazon Pay has rolled out biometric authentication for UPI…