On Thursday, India's May Trade Deficit At Five Month High of $22.12 Billion. India's trade data for Imports stood at $57.10 Billion against $49.9 Billion (MoM). The exports stood at $34.98 Billion against 34.66 Billion (Mom).
According to the government data, due to the global demand slowdown, exports have now contracted for the fourth month in a row, after contracting 12.7 percent in April.
In May, the services exports were $25.30 billion and imports $13.53 billion.
In 2022-2023, India's export jumped from $500 billion to $767 billion in the last two years.
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This is breaking news, more updates expected.
