May Trade Deficit Narrows to $21.88 Billion on Lower Imports

India's merchandise trade deficit narrowed sharply to $21.88 billion in May, on account of lower imports, government data released on Monday showed.

- Reuters

NEW DELHI:

The trade deficit was lower than the $25 billion expected by economists in a Reuters poll, and below April's deficit of $26.42 billion.

"Lower imports resulted in trade deficit reducing more than expected. Weakness in exports persists, reflecting uncertain global demand due to tariffs and softer commodity prices," said Gaura Sen Gupta, chief economist at IDFC First Bank.