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India's Trade Deficit Narrows Amid Muted Tariff Impact
The merchandise trade deficit stood at $21.88 billion in May, according to data published by the country's commerce ministry. That compared with the $22.09 billion recorded in the same month a year earlier. Exports fell by 2.2% on year to $38.73 billion, while imports ticked 1.7% lower to $60.61 billion.
India's trade deficit narrows to $21.88 bn in May; merchandise exports decline
The overall trade deficit, comprising both merchandise and services, stood at $6.62 billion, an improvement from $9.35 billion in the year-ago period. India’s cumulative exports (merchandise and services) in April–May 2025 stood at $142.43 billion, up from $134.69 billion in the same period last year, reflecting a growth of 5.75%.
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