Merchandise exports grow by 20%; Services exports up 30%
New Delhi: India’s overall exports (Merchandise and Services combined) in May 2022 are estimated to be USD 62.21 Billion, exhibiting a positive growth of 24.03 per cent over the same period last year, the Ministry of Commerce & Industry, stated here today.
The merchandise exports in May 2022 were USD 38.94 Billion, as compared to USD 32.30 Billion in May 2021, exhibiting a positive growth of 20.55 per cent. The estimated value of services export for May 2022* is USD 23.28 Billion, exhibiting a positive growth of 30.32 per cent vis-a-vis May 2021 (USD 17.86 Billion).
India’s overall exports (Merchandise and Services combined) in April-May 2022 are estimated to be USD 124.59 Billion, exhibiting a positive growth of 25.90 per cent over the same period last. The merchandise exports for the period April-May 2022 were USD 78.72 Billion as against USD 63.05 Billion during the period April-May 2021, registering a positive growth of 24.86 per cent. The estimated value of services export for April-May 2022* is USD 45.87 Billion, exhibiting a positive growth of 27.71 per cent vis-a-vis April-May 2021 (USD 35.92 Billion).
The overall imports (Merchandise and Services combined) in May 2022 are estimated to be USD 77.65 Billion, exhibiting a positive growth of 59.19 per cent over the same period last year. The overall imports in April-May 2022* are estimated to be USD 151.89 Billion, exhibiting a positive growth of 45.44 per cent over the same period last year.
Table 1: Trade during May 2022*
Table 2: Trade during April-May 2022*
MERCHANDISE TRADE
- Merchandise imports in May 2022 were USD 63.22 Billion, which is an increase of 62.83 per cent over imports of USD 38.83 Billion in May 2021.
- The merchandise trade deficit in May 2022 was estimated at USD 24.29 Billion as against USD 6.53 Billion in May 2021, which is an increase of 271.96 per cent.
- Merchandise imports for the period April-May 2022 were USD 123.41 Billion as against USD 84.87 Billion during the period April-May 2021, registering a positive growth of 45.42 per cent.
- The merchandise trade deficit for April-May 2022 was estimated at USD 44.69 Billion as against USD 21.82 Billion in April-May 2021, which is an increase of 104.80 per cent.
Fig 4: Merchandise Trade during April-May 2022
- Non-petroleum and non-gems & jewellery exports in May 2022 were USD 27.16 Billion, registering a positive growth of 13.10 per cent over non-petroleum and non-gems & jewellery exports of USD 24.02 Billion in May 2021.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 34.79 Billion in May 2022 with a positive growth of 31.66 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.42 Billion in May 2021.
Table 3: Trade excluding Petroleum and Gems & Jewellery during May 2022
- Non-petroleum and non-gems & jewellery exports during April-May 2022 was USD 55.60 Billion, an increase of 16.42 per cent over non-petroleum and non-gems & jewellery exports of USD 47.76 Billion in April-May 2021.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 70.42 Billion in April-May 2022, recording a positive growth of 32.94 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 52.97 Billion in April-May 2021.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-May 2022
SERVICES TRADE
- The estimated value of services import for May 2022* is USD 14.43 Billion exhibiting a positive growth of 45.01 per cent vis-à-vis May 2021 (USD 9.95 Billion)
- The services trade balance in May 2022* is estimated at USD 8.85 Billion, which is an increase of 11.85 per cent over May 2021 (USD 7.91 Billion).
- The estimated value of services imports for April-May 2022* is USD 28.48 Billion exhibiting a positive growth of 45.52 per cent vis-à-vis April-May 2021 (USD 19.57 Billion).
- The services trade balance for April-May 2022* is estimated at USD 17.39 Billion as against USD 16.35 Billion in April-May 2021, which is an increase of 6.39 per cent.
– global bihari bureau
