New Delhi – India’s goods exports contracted 2.17 per cent (year-on-year) in May to $38.73 billion, following two consecutive months of growth, with sectors including petroleum products, gems & jewellery and engineering posting a decline.

Trade deficit narrowed to $21.88 billion in May 2025, compared to $22.09 billion in May last year, as imports fell 1.7 per cent (year-on-year) to $60.61 billion. Petroleum products, gold and coal & coke contributed significantly to the fall in imports, per data released by the Commerce & Industry Ministry on . . .