India's merchandise exports up by 15.46%, touch $37.3 bn in May
India’s merchandise exports in the first two months of current fiscal year was $77.08 billion
India’s merchandise exports in May 2022 stood at $37.29 billion, a 15.46% year-on-year increase compared to $32.30 billion in May 2021, according to official data released by the Ministry of Commerce and Industry on Thursday.
India’s merchandise exports in the first two months of current fiscal year (April -May 2022-23) was $77.08 billion with an increase of 22.26% over $63.05 billion in April -May 2021-22, the data revealed.
Non-petroleum exports totalled USD 29.18 billion in May 2022, an increase of 8.13% above non-petroleum exports of USD 26.99 billion in May 2021. In April-May 2022-23, the total value of non-petroleum exports was USD 61.09 billion, up 12.9% from USD 54.11 billion in April-May 2021-22.
Apart from this, petroleum items (52.71%), electronic goods (41.46%), and RMG of all textiles (22.94%) led the charge in May 2022 when it came to a significant rise in exports.
In May 2022, India's product imports totalled USD 60.62 billion, up 56.14% from USD 38.83 billion in May 2021. India's merchandise imports totalled USD 120.81 billion in April-May 2022-23, up 42.35% from USD 84.87 billion in April-May 2021-22.
In May 2022, the price of non-oil, non-GJ (gold, silver, and other precious metals) imports was USD 33.61 billion, up 27.2% from non-oil, non-GJ imports of USD 26.42 billion in May 2021. Non-oil and non-GJ (Gold, Silver, and Precious Metals) imports totalled USD 69.25 billion in April-May 2022-23, up 30.71% from USD 52.97 billion in April-May 2021-22.
In May 2022, the trade deficit of the country was USD 23.33 billion, compared to USD 43.73 billion in April-May 2022-23.