India Narrows May Trade Deficit to $28.21 Billion as US-Iran Hormuz Deal Lifts Outlook
Updated
Updated · Bloomberg · Jun 15
India Narrows May Trade Deficit to $28.21 Billion as US-Iran Hormuz Deal Lifts Outlook
3 articles · Updated · Bloomberg · Jun 15
Summary
$28.21 billion — India’s merchandise trade deficit narrowed in May from $28.38 billion in April, according to Commerce Ministry data released Monday.
The smaller gap came as an interim US-Iran agreement to reopen the Strait of Hormuz improved the outlook after months of shipping disruptions had weighed on trade flows.
Still, the May reading was wider than economists’ median forecast of a $27.2 billion deficit, suggesting external trade conditions remain strained despite the diplomatic breakthrough.