India's trade deficit widened to $23.33 billion in May 2022 as imports grew faster than exports.
The trade deficit in May 2021 was $6.53 billion.
Merchandise exports rose by 15.46% to $37.29 billion in May on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, according to the commerce ministry. Imports during the month grew by 56.14% to $60.62 billion.
"India's merchandise export in April-May 2022-2023 was $77.08 billion with an increase of 22.26% over $63.05 billion in April-May 2021-2022," it said.
Petroleum and crude oil imports surged by 91.6% to $18.14 billion.
Coal imports jumped to $5.33 billion, as against $2 billion in May 2021.
Gold imports increased to $5.82 billion from $677 million in May 2021.
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