India’s exports rise 18% in May; trade deficit at $28.2 billion

India’s merchandise exports grew 18% year-on-year to $45.2 billion in May, while imports rose 20.62% to $73.41 billion, resulting in a trade deficit of $28.21 billion, according to commerce ministry data, reported PTI.The strong performance also lifted cumulative merchandise exports during April-May 2026-27 to $88.91 billion, up 16.09% from the corresponding period last year.Commerce Secretary Rajesh Agrawal said exports to West Asia remained largely stable despite geopolitical developments in the region.India’s exports to Middle East stood at $5.30 billion in May compared with $5.38 billion in May 2025, he said.Gold imports during the first two months of the current fiscal surged 60% to $9.04 billion, according to the data.Commenting on the outlook, Agrawal said current trends point to a positive year for India’s exports.“Going by the trend, this year will be good for exports,” he added.