India's Exports Surge 9% to $38.13 Billion in May

New Delhi, Jun 14 (PTI) India's merchandise exports in May 2024 rose by 9 per cent to USD 38.13 billion, from USD 34.95 billion in the year-ago month, according to government data released on Friday.

Imports too increased by 7.7 per cent to USD 61.91 billion, from USD 57.48 billion in May 2023.

Trade deficit, or the gap between imports and exports, during the month under review stood at USD 23.78 billion.

Briefing media on the data, Commerce Secretary Sunil Barthwal said May has been an excellent month in terms of exports and "I hope that this trend will continue".

In April 2024, outbound shipments rose by one per cent to USD 35 billion.

Exports during April-May this fiscal rose by 5.1 per cent to USD 73.12 billion and imports rose by 8.89 per cent to USD 116 billion during April-May 2024-25.