India: Merchandise exports increase at a slower rate in June
Merchandise exports climbed 2.6% year on year in June (May: +12.8% yoy). Meanwhile, merchandise imports rose 5.0% on an annual basis in June (May: +7.4% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 21.0 billion shortfall in June (May 2024: USD 23.3 billion deficit; June 2023: USD 19.2 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 244.4 billion deficit in June, compared to the USD 242.6 billion deficit in May.