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 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*
|
May 2022 (USD Billion) |
May 2021
(USD Billion) |
Growth vis-à-vis May 2021 (%) | ||
|
Merchandise |
Exports | 38.94 | 32.30 |
20.55 |
|
Imports |
63.22 | 38.83 | 62.83 | |
| Trade Balance | -24.29 | -6.53 |
-271.96 |
|
|
Services* |
Exports |
23.28 | 17.86 | 30.32 |
| Imports | 14.43 | 9.95 |
45.01 |
|
|
Net of Services |
8.85 | 7.91 | 11.85 | |
| Overall Trade (Merchandise+Services) * | Exports | 62.21 | 50.16 |
24.03 |
|
Imports |
77.65 | 48.78 | 59.19 | |
| Trade Balance | -15.44 | 1.38 |
-1215.73 |
* Note: The latest data for services sector released by RBI is for April 2022. The data for May 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-May 2021 has been revised on pro-rata basis using quarterly balance of payments data.
Table 2: Trade during April-May 2022*
|
April-May 2022 (USD Billion) |
April-May 2021
(USD Billion) |
Growth vis-à-vis April-May 2021 (%) |
||
|
Merchandise |
Exports |
78.72 | 63.05 |
24.86 |
|
Imports |
123.41 | 84.87 | 45.42 | |
| Trade Balance | -44.69 | -21.82 |
-104.80 |
|
|
Services* |
Exports |
45.87 | 35.92 | 27.71 |
| Imports | 28.48 | 19.57 |
45.52 |
|
|
Net of Services |
17.39 | 16.35 | 6.39 | |
|
Overall Trade (Merchandise+Services) * |
Exports | 124.59 | 98.96 |
25.90 |
|
Imports |
151.89 | 104.44 | 45.44 | |
| Trade Balance | -27.30 | -5.47 |
-398.74 |
* Note: The latest data for services sector released by RBI is for April 2022. The data for May 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-May 2021 has been revised on pro-rata basis using quarterly balance of payments data.
The Statistics of Quick Estimates for May 2022 can be accessed at: https://static.pib.gov.in/WriteReadData/specificdocs/documents/2022/jun/doc202261565101.pdf
The Complete Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1834153
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