New Delhi, July 15 (KNN) In the month of June, India’s merchandise trade deficit narrowed to USD 20.13 billion from USD 22.12 billion in May, as per government data released on Friday. 

The country's merchandise exports fell 22% to USD 32.97 billion in June from USD 42.28 billion a year earlier.

While imports declined 17.48% to USD 53.1 billion in June compared to USD 64.35 billion a year ago, data showed.

In the previous month, merchandise exports were USD 34.98 billion, while imports stood at USD 57.10 billion.

India's trade deficit had widened to a five-month high of USD 22.12 billion in May. 

Demand slowdown in major markets, high inflation in developed economies and the Russia-Ukraine war are impacting the country's exports.

India's exports remained weak due to several reasons including a slowdown in the world's major economies, Trade Secretary Sunil Barthwal told reporters.

Services exports in June were USD 27.12 billion, while imports were USD 15.88 billion. In May, services exports were USD 25.30 billion and imports were USD 13.53 billion.  (KNN Bureau)