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
National News Tushar Mehta Reappointed as Solicitor General of India The Government of India has…
After reports of Meta’s major investment in CRED and Kunal Shah’s leadership move connected with…
Chennai Petroleum Corporation Limited (CPCL) which is India's one of the leading oil refining companies…
The newly launched Aadhaar App has crossed the 31 million downloads within just five months…
As Lionel Messi become the FIFA World Cup top scorer in the history of the…
The FIFA World Cup 2026 has added another historic moment to football’s biggest stage as…