Goods trade deficit widens to a five-month high in April

India's widening trade deficit in April comes amid lingering global trade tensions

- Dhirendra Kumar & Rhik Kundu

India's merchandise trade deficit rose to a five-month high of $26.42 billion in April on the back of higher imports, as exports rose at a slower clip, provisional data released by the ministry of commerce and industry on Thursday showed.

Merchandise exports rose to $38.49 billion in April from $35.30 billion in the year-ago period.

Goods imports rose to $64.91 billion by value in April, up from $54.49 billion a year ago.

March's goods exports stood at $41.97 billion, while imports were $63.51 billion, compared with $36.91 billion of exports and $50.96 billion of imports in February.

The merchandise trade deficit—the difference between exports and imports—stood at $21.54 billion in March, $14.05 billion in February, $23 billion in January and $19.19 billion in April 2024.

The latest figure exceeded economists' expectations of $20 billion, according to a Reuters poll.

India's widening trade deficit in April comes amid lingering global trade tensions.