India’s merchandise export rises 15.46% to USD 37.3 billion in May

| Published: Thursday, June 2, 2022, 21:07 [IST]

New Delhi, Jun 2: India's merchandise exports rose by 15.46 per cent to $37.29 billion in May on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as the trade deficit widened to $23.33 billion during the month, the commerce ministry said on Thursday.

Qingdao: A worker in protective overall works near containers on a ship in Qingdao in east Chinas Shandong province Sunday, Nov. 7, 2021. Chinas export growth slowed slightly in October to 27.1 percent over a year ago, while imports were up 20.6 percent, the customs administration said Sunday. AP/PTI( — Representational image: Qingdao: A worker in protective overall works near containers on a ship in Qingdao in east China's Shandong province Sunday, Nov. 7, 2021. China's export growth slowed slightly in October to 27.1 percent over a year ago, while imports were up 20.6 percent, the customs administration said Sunday. AP/PTI(

India's merchandise export in April-May 2022-23 was USD 77.08 billion with an increase of 22.26% over USD 63.05 billion in April -May 2021-22. "Value of non-petroleum exports in May 2022 was 29.18 USD billion, registering a positive growth of 8.13% over non-petroleum exports of USD 26.99 billion in May 2021. The cumulative value of non-petroleum exports in April -May 2022-23 was USD 61.09 billion, an increase of 12.9% over USD 54.11 billion in April -May 2021-22," the Ministry of Commerce & Industry said in a statement.

Value of non-petroleum and non-gems and jewellery exports in May 2022 was USD 26.08 billion, registering a positive growth of 8.57% over non-petroleum and non-gems and jewellery exports of USD 24.02 billion in May 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April-May 2022-23 was USD 54.52 billion, an increase of 14.15 % over cumulative value of non-petroleum and non-gems and jewellery exports of USD 47.76 billion in April -May 2021-22.

Petroleum products (52.71%), Electronic goods (41.46%) and RMG of all Textiles (22.94%) led the way in high increase in exports during May 2022, the government said.

India's merchandise import in May was USD 60.62 billion, an increase of 56.14% over USD 38.83 billion in May 2021. India's merchandise imports in April -May 2022-23 was USD 120.81 billion with an increase of 42.35% over USD 84.87 billion in April -May 2021-22.

Value of non-petroleum imports was USD 42.48 billion in May 2022 with a positive growth of 44.7% over non-petroleum imports of USD 29.36 billion in May 2021. The cumulative value of non-petroleum imports in April -May 2022-23 was USD 82.55 billion, showing an increase of 27.72% compared to non-oil imports of USD 64.63 billion in April -May 2021-22.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 33.61 billion in May with a positive growth of 27.2% over non-oil and non-GJ imports of USD 26.42 billion in May 2021. Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April-May 2022-23 was USD 69.25 billion, recording a positive growth of 30.71%, as compared to non-oil and non-GJ imports of USD 52.97 billion in April -May 2021-22.

The trade deficit in May 2022 was USD 23.33 billion, while it was 43.73 billion USD during April-May 2022-23.