India’s merchandise trade deficit rose to $25.6 billion in June 2022, 62 percent higher than June 2021 as a continuing global commodity supercycle kept the prices of key energy and metal imports high.
Data released by the Commerce and Industry Ministry on Monday showed that while exports in June rose by 16.8 percent to $37.9 billion, imports shot up by 51 percent to $63.5 billion. The resultant $25.6 billion worth of trade deficit – the difference between total exports and imports – has given the Commerce Department a new headache, an official said.
The monthly trade deficit has been rising for the past few months. It had risen from $20.4 billion in April to $23.3 billion in May earlier.
Press the Bell icon for notifications of all new updates
