Exports Rise 20.55% To $38.94 Billion In May; Trade Deficit At Record $24.29 Billion

India’s trade deficit widened to a record high in May as imports grew faster than exports during the month. Merchandise exports rose by 20.55% to $38.94 billion in May while imports grew by 62.83% to $63.22 billion, according to government data released on Wednesday. That pegged the trade deficit at $24.29 billion, up from $6.53 billion a year ago.Cumulative exports in April-May 2022-23 rose by 25% to $78.72 billion. Imports during t…