Exports rise 20.55% to $38.94 bn in May; trade deficit at record $24.29 bn
- IBEF
- June 16, 2022
According to government figures issued on June 15, India's merchandise exports increased by 20.55% to US$ 38.94 billion in May, while the trade deficit reached a new high of US$ 24.29 billion. In the same month last year, the trade deficit was US$ 6.53 billion.
Imports increased by 62.83% to US$ 63.22 billion in May 2022.
In April-May FY23, total exports increased by about 25% to US$ 78.72 billion, while imports grew 45.42% to US$ 123.41 billion.
Product Imports in May 2022:
- Petroleum and crude oil imports increased by 102.72% to US$ 19.2 billion.
- Coal, coke, and briquettes imports increased to US$ 5.5 billion.
- Gold imports surged to US$ 6 billion.
Product Exports in May 2022:
- Engineering items exports jumped by 12.65% to US$ 9.7 billion.
- Petroleum products exports increased by 60.87% to US$ 8.54 billion.
- Gems and jewellery exports totaled US$ 3.22 billion.
- Chemical exports increased 17.35% to US$ 2.5 billion.
- Exports of pharma grew by 10.28% to US$ 2 billion.
- Ready-made garment exports grew by 27.85% to US$ 1.41 billion.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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