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India's trade deficit widened in June, as continued uncertainty over the US-Iran war and shipping traffic through the Strait of Hormuz dominated global supply chain forecasts.

Bloomberg News reported that the gap between exports and imports reached $30.43 billion in June, compared to $28.2 billion in May, according to data released by the Ministry of Commerce and Industry on Monday.

Navigation in the Strait of Hormuz slows to lowest level in several weeks

Economists had expected a deficit of $26.5 billion, according to a Bloomberg survey.

The data showed exports rose 15.5% from a year earlier to $40.41 billion in June, while imports rose 31% to $70.84 billion.

Renewed strikes between the United States and Iran over the weekend raised fears of a new escalation. Tehran targeted US facilities in the Gulf on Sunday and announced the closure of the Strait of Hormuz again. Iran's Revolutionary Guard said on Monday it attacked US military bases in Kuwait and Bahrain.

Before the conflict erupted in late February, about one-fifth of the world's daily supply of oil and liquefied natural gas passed through the Strait of Hormuz.

Data showed ship traffic through the strait fell on Sunday to its lowest level in five weeks. According to Kepler, only six ships crossed the strait on Sunday.

The escalation of attacks cast further doubt on the future of the interim agreement between the US and Iran signed last month aimed at reopening the strait and ending the war after another 60 days of negotiations.

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