NEW DELHI (Reuters) – India’s merchandise trade deficit in June stood at $20.13 billion, according to a Reuters calculation based on export and import data released by the government on Friday.
Merchandise exports stood at $32.97 billion, while imports were $53.10 billion in June. In the previous month, merchandise exports were $34.98 billion, while imports stood at $57.10 billion.
India’s exports remained weak due to several reasons including a slowdown in the world’s major economies, Trade Secretary Sunil Barthwal told reporters.
Services exports in June were $27.12 billion, while imports were $15.88 billion. In May, services exports were $25.30 billion and imports were $13.53 billion.
For the April-June period, services and merchandise exports fell 7.3% year-on-year to $182.7 billion, while imports fell 10.2% to $205.29 billion.
(Reporting by Shivangi Acharya and Riddhima Talwani; Editing by Christina Fincher)
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