India’s merchandise exports grew 20.55 per cent year-on-year to $38.94 billion in May, while imports during the month grew 62.83 per cent year-on-year to $63.22 billion. Thus, the trade deficit during the month stood at $24.29 billion as against $6.53 billion in May 2021. According to official data released on Wednesday, services exports saw a growth of 30.32 per cent during May to $23.28 billion as compared to $17.86 billion a year ago. ,
In the same month last year, the country’s goods exports were $ 32.30 billion, while imports were $ 38.83 billion.
India’s total exports (both goods and services) in May are estimated at $62.21 billion, a positive growth of 24.03 per cent over the corresponding period last year. As per the data, the country’s total imports (both goods and services) in May 2022 are estimated to be $77.65 billion, showing a positive growth of 59.19 per cent over the same period last year.
“Merchant exports stood at $38.94 billion in May 2022 as compared to $32.30 billion in May 2021, exhibiting a positive growth of 20.55 per cent. The estimated value of exports of services for May 2022 is $23.28 billion, showing a positive growth of 30.32 percent over May 2021 ($17.86 billion), the Ministry of Commerce and Industry said in a statement.
During April-May 2022, India’s total exports stood at $124.59 billion, showing a positive growth of 25.90 percent over the previous corresponding period. Merchandise exports for the period stood at $78.72 billion as against $63.05 billion in the same period a year ago, registering a positive growth of 24.86 per cent.
The estimated value of exports of services for April-May 2022 is US$ 45.87 billion, showing a growth of 27.71 per cent over April-May 2021 (US$ 35.92 billion).
The country’s total imports during April-May 2022 are estimated to be USD 151.89 billion, an increase of 45.44 per cent over the corresponding period last year.
Non-petroleum and non-gems and jewelery exports stood at USD 27.16 billion in May 2022, registering a positive growth of 13.10 per cent over non-petroleum and non-gems and jewelery exports of USD 24.02 billion in May 2021.
Non-petroleum, non-gems and jewelery (gold, silver and precious metals) imports stood at $34.79 billion in May 2021, a positive growth of 31.66 per cent as compared to $26.42 billion in May 2021 non-petroleum, non-gems and jewelery imports was accompanied by growth.
During April-May 2022, non-petroleum and non-gems and jewelery exports stood at $55.60 billion, a growth of 16.42 per cent as compared to non-petroleum and non-gems and jewelery exports of US$ 47.76 billion in April-May 2021 Is.
“Non-petroleum, non-gems and jewelery (gold, silver and precious metals) imports stood at $70.42 billion in April-May 2022, registering a positive growth of 32.94 per cent as compared to non-petroleum, non-gems and jewelery imports. does. 52.97 billion in April-May 2021,” the statement said.
Imports of services during May 2022 stood at $14.43 billion, an increase of 45.01 percent over May 2021 ($9.95 billion). The services trade balance is estimated at $8.85 billion in May 2022, an increase of 11.85 percent over May 2021 (USD 7.91 billion).
During April-May 2022, service imports grew by 45.52 per cent year-on-year to $28.48 billion, as against $19.57 billion in April-May 2021. April-May 2021, which is an increase of 6.39 percent, the data showed.
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