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India's Trade Deficit Narrows in June Amid Cooling Oil Prices, Weak Gold Imports: Report
The Northlines
|July 14, 2025
India's _ merchandise trade deficit likely narrowed to $20.7 billion in June 2025, down from $21.9 billion in May, driven by softening crude oil prices and tepid gold imports, according to a report by Union Bank of India
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A temporary drop in global oil prices due to a ceasefire between Israel and Iran, alongside increased OPEC+ output, helped improve India’s oil trade balance. Though Brent crude recovered to an average of $69.80/bbl in June from $64.01/bbl in May, the overall supply environment kept costs in c
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