India's exports climbed to a six-month high of 18 per cent to USD 45.2 billion in May, while trade deficit widened to USD 28.21 billion, driven by increased imports of petroleum products amid higher crude oil prices. However, the trade deficit narrowed marginally on a month-on-month basis compared to USD 28.38 billion recorded in April.

The trade gap stood at USD 22.56 billion in May last year. Imports grew 10 per cent year-on-year to a three-month high of USD 73.41 billion in May, widening the trade deficit from a year ago. Commerce Secretary Rajesh Agrawal said that despite global geopolitical uncertainties, the country's exports are registering good growth.

The May export numbers are "one of the highest", he said, adding that going by the trend, this year will be good for exports. The key drivers of exports include electronic goods (up 11.62 per cent to USD 5.09 billion), petroleum products (up 54.89 per cent to USD 8.42 billion), engineering items (24.48 per cent to USD 12.31 billion) and pharmaceuticals (6.63 per cent to USD 2.62 billion).

However, exports of tea, tobacco, spices, cashew, marine products, leather and textiles recorded negative growth in May. During April-May 2026-27, exports rose 16.09 per cent to USD 88.91 billion, while imports jumped 15.14 per cent to USD 145.35 billion. The trade deficit stood at USD 56.44 billion during the period. Gold imports during the first two months of this fiscal year surged 60 per cent to USD 9.04 billion. Oil imports in May rose 53.8 per cent to USD 22.67 billion due to high prices, which hovered at around USD 100 per barrel in that month. These imports rose 16.5 per cent to USD 41.3 billion during April-May 2026-27