India’s merchandise trade deficit narrowed to $18.78 billion in June from $21.88 billion recorded in the previous month largely due to decline in imports even as exports remained flat, as per official data released on 15th July. India's goods imports declined by 3.71% year-on-year to $53.92 billion in June, while exports declined marginally to $35.14 billion during the month under review from $35.16 billion recorded in May. In services trade India is estimated to have a surplus of $15.62 billion in June. India’s services exports in June are pegged at $32.84 billion while services imports were valued at $17.58 billion, as per data released by the Ministry of Commerce and Industry. Robust growth in services exports helped narrow the overall trade deficit to $3.51 billion in June from $7.30 billion recorded in the same month last year. India’s overall export performance in the first three months of the current financial year was remarkably strong despite global uncertainties and disruptions in global supply routes caused due to the recent Israel-Iran conflict. The cumulative exports (merchandise & services) during April-June 2025 is estimated at $210.31 billion, which is 5.94% higher when compared with $198.52billion in the corresponding period of the previous year. Cumulative value of merchandise exports during April-June 2025 was $112.17 billion, as compared to $110.06 billion during April-June 2024, registering a growth of 1.92%. Despite tariff threats and uncertainties, India’s exports to the US in April–May period rose to $17.25 billion from $14.17 billion recorded in the same period last year. The sharp drop in imports may also reflect the success of import substitution efforts and the strengthening of domestic manufacturing capacities, in line with the government’s Atmanirbhar Bharat vision. Engineering good shipments increased by 1.3% year-on-year to $9.50 billion in June. Cumulatively, engineering goods exports stood at $28.90 billion in the April-June period, registering a growth of 3.62%. (ICE NEW DELHI)

Fonte notizia: Economic Times