India's trade deficit widened to $30.4 billion in June as merchandise imports outpaced exports, even as the country's total exports during the April-June quarter touched a record high, Commerce Secretary Rajesh Agarwal said on Monday.
Merchandise exports stood at $40.4 billion during the month, while merchandise imports rose 31% year-on-year to $70.8 billion. Services exports were estimated at $33 billion, while services imports came in at $17.9 billion.
Despite the wider trade gap, India's overall export performance remained robust. Total exports, including merchandise and services, reached $232.7 billion in the April-June quarter, up 11.4% from a year earlier, marking the highest quarterly export figure ever recorded by the country.
The Commerce Secretary said India's exports continue to show healthy growth, with June exports rising 7.3% year-on-year.
Electronics goods, rice, iron ore, handicrafts, poultry products and marine products emerged as some of the strongest-performing export categories during June.
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Engineering goods, petroleum products and electronics remained India's top export items, while the country's leading export destinations during the month were the US, the UAE and Singapore.
China, Singapore and South Africa were among the key markets contributing to export growth, while exports to the Middle East also remained resilient, helping offset weakness witnessed in some regions earlier in the year.
On the import side, China, Russia and the US continued to be India's largest sources of imports.
The latest figures come after India's merchandise trade deficit widened 25% year-on-year to $28.21 billion in May, exceeding economists' expectations as imports grew at a faster pace than exports. June's trade deficit of $30.4 billion marks a further increase from the previous month's level.
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