India’s trade deficit in June at $18.78 billion

NEW DELHI: India’s merchandise trade deficit in June stood at $18.78 billion, according to Reuters’ calculations based on export and import data released by the Ministry of Commerce & Industry on Tuesday.

Economists had expected the June trade deficit to be at $22.24 billion, according to a Reuters poll, compared to $21.88 billion in the previous month.

Exports of goods stood at $35.14 billion in June while imports were at $53.92 billion, compared with $38.73 billion of exports and $60.61 billion of imports in May.

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Meanwhile, the trade in services showed an estimated surplus of $15.62 billion in June, with services exports at $32.84 billion and imports at $17.58 billion, data showed.