Goods exports contract 10.3% in May

June 15, 2023

Imports also shrank 6.6% on-year to $57.1 billion from $61.13 billion, leaving a trade deficit of $22.12 billion in May from $22.13 billion a year ago. Commerce Secretary Sunil Barthwal said headwinds still continue on the global trade front and many countries are going through a slowdown.

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