<h1>Trade Balance improved as combined merchandise and services deficit narrowed on yearly comparison.</h1> Merchandise exports fell slightly in dollar terms while imports declined markedly, driven by substantial reductions in oil and lower non oil imports; non petroleum exports rose modestly for the month but fell cumulatively. Services receipts were essentially flat and payments declined, producing a positive net services balance. Combined merchandise and services flows produced a materially narrower overall trade deficit for the April-May period, as reflected in provisional dollar and rupee figures and comparative growth rates.