India’s overall exports (Merchandise and Services combined) in May are estimated to be $62.21 billion, exhibiting a positive growth of 24.03 percent over the same period last year. Data released by the Commerce and Industry Ministry on June 15 showed that merchandise exports in May 2022 stood at $38.9 billion, 20.55 percent higher than the $32.3 billion worth of exports in May 2021 and $19.2 billion in May 2020. Impressively, exports also rose by 23 percent from the $29.8 billion registered three years back or May 2019, before the pandemic struck. Meanwhile, imports continued to rise at a fast clip. May 2022 saw imports rise to $63.2 billion, a 62 percent jump from May 2021. Mostly owing to burgeoning crude oil imports, India's overall import bill has risen by equally large margins over the past few months. India’s overall exports (Merchandise and Services combined) in May are estimated to be $62.21 billion, exhibiting a positive growth of 24.03 percent over the same period last year.
Data released by the Commerce and Industry Ministry on June 15 showed that merchandise exports in May 2022 stood at $38.9 billion, 20.55 percent higher than the $32.3 billion worth of exports in May 2021 and $19.2 billion in May 2020. Impressively, exports also rose by 23 percent from the $29.8 billion registered three years back or May 2019, before the pandemic struck. Meanwhile, imports continued to rise at a fast clip. May 2022 saw imports rise to $63.2 billion, a 62 percent jump from May 2021. Mostly owing to burgeoning crude oil imports, India's overall import bill has risen by equally large margins over the past few months. The estimated value of services export for May 2022 is $23.28 Billion, exhibiting a positive growth of 30.32 percent vis-a-vis May 2021 (USD 17.86 Billion).