Exports Rose 15% In May, Trade Deficit Widened To $23.33 Billion

India's merchandise exports rose by 15.46 per cent to $37.29 billion in May on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as the trade deficit widened to $23.33 billion during the month, the Commerce Ministry said on Thursday.

Imports during the month too grew by 56.14 per cent to $60.62 billion.

The trade deficit in May 2021 stood at $6.53 billion.

"India's merchandise export in April - May 2022-23 was $77.08 billion with an increase of 22.26 per cent over $63.05 billion in April -May 2021-22," it said.

Petroleum and crude oil imports during May 2022 surged by 91.6 per cent to $18.14 billion.

Coal, coke and briquettes imports jumped to $5.33 billion, as against $2 billion in May 2021.

Gold imports increased to $5.82 billion during the month under review, from $677 million in May 2021.