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India Exports May 2022: Record export of goods from India in May but increased trade deficit

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Highlights

  • Trade deficit widens to record $24.29 billion
  • Trade deficit stood at $6.53 billion in May 2021
  • April-May imports up 45.42 per cent to $123.41 billion

India Exports May 2022: India’s merchandise exports grew by 20.55 percent to $38.94 billion in May 2022, while the trade deficit widened to a record $24.29 billion. This information was obtained from government data released on Wednesday. According to the data, during May 2022, imports grew by 62.83 percent to $ 63.22 billion. The trade deficit stood at $6.53 billion in May 2021.

Imports also increased to $123.41 billion

The cumulative exports during the month of April-May of the current financial year (2022-23) grew by about 25 per cent to reach US$ 78.72 billion. Imports grew 45.42 per cent to $123.41 billion in April-May 2022-23.

Global economy back on track after Corona

Economic experts say that the global economy is back on track after the Corona epidemic. This has increased the demand for the goods. India has also benefited from this. Due to this there has been an increase in exports.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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