Article Title: India’s total trade deficit narrows due to low oil prices and increased service exports
16-06-2025
Economy Current Affairs Analysis
Context
• India’s overall trade deficit narrowed to $6.6 billion in May 2025, down nearly 30% from its level in May last year, as total imports fell largely due to a fall in oil prices while total exports grew on the back of a strong performance by the services sector, official data show.
• According to the monthly data released by the Ministry of Commerce and Industry on Monday, total exports grew 2.8% to $71.1 billion in May 2025 — up from $69.2 billion in May 2024 — with exports in the service sector growing 9.4% to $32.4 billion
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