Trade Deficit Hits Record $26.18 Billion In June

India's trade deficit ballooned to a record of $26.18 billion in June.

India's merchandise exports in June grew 23.52% to $40.13 billion, according to the government data released on Thursday. Imports expanded by 57.55% to $66.31 billion in June compared to the year-ago month, the data showed.

The trade deficit stood at $9.60 billion in June 2021.

Cumulative exports in April-June 2022-23 rose about 24.51% to $118.96 billion, while imports increased 49.47% to $189.76 billion during the period.

The trade deficit during the first three months of this fiscal widened to $70.80 billion from $31.42 billion in the year-ago period.