According to data released by the government on Monday, India's commodity trade deficit in May narrowed to 21.88 billion USD, lower than the Analyst estimate of 25 billion USD and also less than April's 26.42 billion USD. The data shows that May's commodity exports were 38.73 billion USD, and imports were 60.61 billion USD. Meanwhile, India's Trade Minister Sunil Barthwal stated that the service trade surplus in May is estimated to be 14.65 billion USD, with service exports rising to 32.39 billion USD and imports increasing to 17.14 billion USD.
India's trade deficit narrowed in May.
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