India’s exports witnessed an increase of 16.8% year-on-year to USD 37.94 billion in June, while the trade deficit ballooned to a record USD 25.63 billion, revealed the government’s preliminary data on Monday.
The imports surged by 51% to USD 63.58 billion in June compared to the year-ago month, the data showed.
In June 2021, the trade deficit-difference between value of imports and exports- stood at USD 9.61 billion.
Cumulative exports in April-June 2022-23 rose by about 22.22 % to USD 116.77 billion while imports increased 47.31% 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.
(With inputs from PTI)
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