April trade deficit exceeds forecasts as oil and gas import prices push India’s energy bill sharply higher.
India’s trade deficit expanded to $28.38 billion in April, surpassing analyst expectations amid rising energy import costs. The gap widened by $8 billion from March’s $20.6 billion deficit, driven by soaring oil and gas prices.
Economists had anticipated a deficit near $26 billion. While exports rose 13.8% year-over-year to $43.56 billion, the surge in import costs offset gains, highlighting vulnerability to global energy price fluctuations.
The data underscores persistent pressure on India’s current account balance as commodity prices remain elevated.