Exports rise 16.78% to $37.94 bn in June; trade deficit at record $25.63 bn

Representative image. Credit: iStock Photo

India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion, according to the government's preliminary data released on Monday.

Imports expanded by 51 per cent to $63.58 billion in June compared to the year-ago month, the data showed.

The trade deficit stood at $9.61 billion in June 2021.

Cumulative exports in April-June 2022-23 rose by about 22.22 per cent to USD 116.77 billion while imports increased 47.31 per cent to USD 187.02 billion during the period.

The trade deficit during the first three months of this fiscal widened to USD 70.25 billion from USD 31.42 billion in the year-ago period.