India's merchandise trade deficit in May stood at $21.88 billion, amid the country actively pursuing Free Trade Agreements, the government said on Monday. The trade gap narrowed from $26.42 billion in April. On a year-on-year basis, the trade deficit was slightly lower compared to $22.09 billion recorded in May 2024. As per a Reuters poll, economists had expected the May trade deficit to be around $25 billion. The merchandise exports in May 2025 were down 2.17 per cent, at $38.73 billion, down from $39.59 billion in May 2024. Meanwhile, imports fell 1.7 per cent YoY, at $60.61 billion as against $61.68 billion. Meanwhile, the trade in services showed an estimated surplus of $14.65 billion in May, as services exports rose to an estimated $32.39 billion while imports increased to $17.14 billion, Trade Secretary Mr. Sunil Barthwal told reporters. Data further revealed that in the April-May period, exports increased to $77.19 billion, while imports rose to $125.52 billion. "Despite the global policy uncertainty regarding trade, we have done extremely well," Mr. Barthwal said. He added that the decline in global crude oil prices had weighed on overall exports. Among product categories, exports of electronic goods, including mobile phones, recorded the sharpest year-on-year rise of 54 per cent in May. Exports of chemicals grew by 16 per cent, while pharmaceuticals rose 7.38 per cent, he said. (ICE NEW DELHI)

Fonte notizia: Economic Times