India’s May merchandise exports jump to a record $45.20 billion on petroleum, engineering shipments

India’s merchandise exports rose to a record $45.20 billion in May, led by petroleum and engineering goods. Imports climbed to a seven-month high of $73.40 billion, mainly on higher crude oil imports. The trade deficit narrowed from the previous month to $28.21 billion in May, while it stood at $22.56 billion in May 2025.