India's Merchandise Exports Surge in May 2024, Narrowing Trade Gap
India's merchandise exports increased by 9% in May 2024 to USD 38.13 billion while imports rose by 7.7% to USD 61.91 billion. The trade deficit for May 2024 was USD 23.78 billion. Commerce Secretary Sunil Barthwal highlighted the positive export trend and hoped it would continue.
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- India
India's merchandise exports saw a significant uptick in May 2024, climbing by 9% to reach USD 38.13 billion, as per the latest government data released on Friday. Simultaneously, imports grew by 7.7%, amounting to USD 61.91 billion for the month.
The trade deficit, which marks the difference between imports and exports, was recorded at USD 23.78 billion for May. Commerce Secretary Sunil Barthwal described May as an excellent month for exports and expressed optimism that this momentum would persist.
In April 2024, exports had risen by 1% to USD 35 billion. Overall, for the fiscal period of April-May 2024-25, exports rose by 5.1% to USD 73.12 billion, while imports saw an 8.89% increase to USD 116 billion.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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