NEW DELHI, June 16 -- India's merchandise exports in May jumped 18% to $45.20 billion as compared to $38.30 in the same month last year despite geopolitical headwinds, commerce secretary Rajesh Agrawal said on Monday, expecting better performance ahead with the truce in West Asia. Although goods imports in May this year also surged by over 20.6% to $73.41 billion as against $60.86 billion in May 2025 because of a spike in energy prices and higher gold imports, the merchandise trade deficit narrowed marginally to $28.21 billion this month compared to $28.38 billion in April 2026, according to government data. India, which imports over 88% crude oil it processes and meets 60% of its cooking gas consumption through imports, saw a spike in energy prices after the war in West Asia broke out on February 28. The situation aggravated after the Strait of Hormuz, the key transit point that sees movement of 20% global energy supplies, closed, escalating cost of fuel imports. India's petroleum imports in May 2026 surged by 53.8% on an annualised basis to $22.68 billion. India's gold imports in May this year jumped nearly 34% to $3.42 billion as compared to $2.55 billion in May 2025.The prospects of a truce and re-establishment of energy supply chain would help energy importers like India in terms of assured and economical supplies of oil and gas, Agrawal said. He, however, said that Indian exporters performed well despite several odds. Giving credit to government's "decisive and a focused" attention to boost exports through trade diversions, export promotion and free trade agreements with major economies, he said merchandise exports in May is among one of the highest monthly exports "that we have achieved thus far".Agrawal said the conflict in West Asia impacted Indian exports to the region, particularly in March....