According to preliminary figures from the Commerce Ministry issued on Monday, India’s exports of goods plummeted by 12.7% in April to a six-month low of $34.66 billion, while imports fell by an even greater 14% to $49.90 billion.
As a result, the monthly goods trade deficit decreased 17% in April from $18.35 billion a year earlier to $15.24 billion, a 20-month low. Sequentially, exports decreased 17.3% from $41.9 billion in March, which was the highest level since June 2022.
