Chennai: India’s trade deficit for May 2025 narrowed to $21.88 billion from a five-month high of $26.42 billion in April as uncertainties affected both exports and imports. Trade deficit was lower than $22.09 billion in the same month last year.Merchandise exports in May at $38.73 billion was 2.2 per cent lower compared to $39.59 billion in May 2024 and imports at $60.61 billion were down 1.76 per cent against $61.68 billion in the year ago month as the global uncertainties around tariff hikes hit the shipments. This helped the trade deficit narrow down to $21.88 billion against $22.09 billion in May 2024 and $26.42 billion in April 2025. India’s non-petroleum merchandise exports saw a positive growth in May. Major drivers of merchandise exports growth in May 2025 include Electronic Goods, Organic & Inorganic Chemicals, Drugs and Pharmaceuticals, Marine Products and readymade garments. Electronic goods exports increased by 54.10 per cent to $ 4.57 billion, organic and inorganic chemicals exports increased by 16 per cent to $2.68 billion, and pharmaceuticals exports were up by 7.38 per cent to $2.48 billion. Marine exports grew 26.79 per cent, and apparels 11.35 per cent. The estimated value of services export for May was $32.39 billion as compared to $29.61 billion in May 2024 and value of services imports was $17.14 billion as compared to $16.88 Billion in May 2024. India’s total exports of merchandise and services together for May, estimated at $ 71.12 billion, grew yearly by 2.77 per cent, while total imports at $77.75 billion registered a negative growth of 1.02 per cent. end
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