India’s merchandise exports have grown 2.55% in June to $35.2 billion. Image for representation purposes only. File
| Photo Credit: S. Siva Saravanan

India’s merchandise exports have grown 2.55% in June to $35.2 billion, while imports have risen 5% to $56.2 billion, Commerce Secretary Sunil Barthwal informed on July 15.

Total merchandise and services exports have hit a record high of $200.3 billion in the first quarter of 2024-25, he said.

The trade deficit, or the gap between imports and exports, during the month under review stood at $20.98 billion.

Briefing media on the data, Mr. Barthwal said going by the current trend, the country’s total exports of goods and services may cross $800 billion this fiscal.

India’s merchandise exports rose by 9.1% to $38.13 billion in May, even as the trade deficit widened to a seven-month high of $23.78 billion.

Exports during April-June this fiscal increased 5.84% to $109.96 billion, and imports grew 7.6% to $172.23 billion.

(With PTI inputs)