Exports surge 16.78% to $37.94 bn in June

New Delhi: 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 $116.77 billion, while imports increased 47.31 per cent to $187.02 billion during the period.

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