India’s merchandise exports in June grew by 23.52 per cent to USD 40.13 billion, while the trade deficit ballooned to a record of USD 26.18 billion, according to the government data released on Thursday.
Imports expanded by 57.55 per cent to USD 66.31 billion in June compared to the year-ago month, the data showed.
The trade deficit stood at USD 9.60 billion in June 2021.
Cumulative exports in April-June 2022-23 rose by about 24.51 per cent to USD 118.96 billion, while imports increased 49.47 per cent to USD 189.76 billion during the period.
The trade deficit during the first three months of this fiscal widened to USD 70.80 billion from USD 31.42 billion in the year-ago period.