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India’s merchandise export rises 15.46% to USD 37.3 billion in May, 2022 as compared to USD 32.30 billion in May 2021, recording highest ever exports in May 2022
India’s merchandise export during first two months of 2022-23 jumps 22.3% to USD 77 billion over USD 63 billion in April -May 2021-22, recording highest ever export during April-May
Non-Petroleum export rises 12.9% to USD 61 billion over the same period of last year
Petroleum products, Electronic goods and Readymade Garments recorded major increase in export for April-May 2022-23
INDIA’S MERCHANDISE TRADE: Preliminary Data of May 2022
India has achieved monthly value of merchandise export in May 2022 amounting USD 37.29 billion, an increase of 15.46% over USD 32.30 billion in May 2021. 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.
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.
India’s merchandise import in May 2022 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 2022 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.
Statement 1: India’s Total Trade in Merchandise goods in May 2022 | |||
| Value in Billion USD | % Growth | |
MAY'22 | MAY'21 | MAY'22 vs MAY'21 | |
Exports | 37.29 | 32.30 | 15.46 |
Imports | 60.62 | 38.83 | 56.14 |
Deficit | 23.33 | 6.53 | - |
Statement 2: India’s Total Trade in Merchandise goods in April-May 2022-23 | |||
| Value in Billion USD | % Growth | |
APR’22-MAY'22 | APR’21-MAY'21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
Exports | 77.08 | 63.05 | 22.26 |
Imports | 120.81 | 84.87 | 42.35 |
Deficit | 43.73 | 21.82 | - |
Statement 3: Merchandise Non-POL Trade in May 2022 | |||
| Value in Billion USD | % Growth | |
MAY'22 | MAY'21 | MAY'22 vs MAY'21 | |
Exports | 29.18 | 26.99 | 8.13 |
Imports | 42.48 | 29.36 | 44.70 |
Statement 4: Merchandise Non-POL Trade in April-May 2022-23 | |||
| Value in Billion USD | % Growth | |
APR’22-MAY'22 | APR’21-MAY'21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
Exports | 61.09 | 54.11 | 12.90 |
Imports | 82.55 | 64.63 | 27.72 |
Statement 5: Merchandise Non-POL Non-GJ Trade in May 2022 | |||
| Value in Billion USD | % Growth | |
MAY'22 | MAY'21 | MAY'22 vs MAY'21 | |
Exports | 26.08 | 24.02 | 8.57 |
Imports | 33.61 | 26.42 | 27.20 |
Statement 6: Merchandise Non-POL Non-GJ Trade in April-May 2022-23 | |||
| Value in Billion USD | % Growth | |
APR’22-MAY'22 | APR’21-MAY'21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
Exports | 54.52 | 47.76 | 14.15 |
Imports | 69.25 | 52.97 | 30.71 |
Top 10 major commodity groups covering 81% of total exports in May 2022, are –
Statement 7: Exports of Top 10 Major Commodity Groups in May 2022 | ||||
| Value of Export (Million US$) | Share (%) | Growth (%) | |
Major Commodity Group | May-22 | May-21 | May-22 | May-22 over May-21 |
Engineering goods | 9299.44 | 8623.65 | 24.94 | 7.84 |
Petroleum products | 8113.89 | 5313.28 | 21.76 | 52.71 |
Gems and Jewellery | 3102.48 | 2968.19 | 8.32 | 4.52 |
Organic and Inorganic chemicals | 2446.71 | 2182.94 | 6.56 | 12.08 |
Drugs and Pharmaceuticals | 1983.15 | 1874.83 | 5.32 | 5.78 |
RMG of all Textiles | 1360.95 | 1107.00 | 3.65 | 22.94 |
Electronic goods | 1339.10 | 946.66 | 3.59 | 41.46 |
Cotton Yarn/Fabs./Madeups, Handloom products etc. | 1005.07 | 1106.04 | 2.70 | -9.13 |
Rice | 822.45 | 773.91 | 2.21 | 6.27 |
Plastic and Linoleum | 729.45 | 863.79 | 1.96 | -15.55 |
Total of 10 Major Commodity Groups | 30202.72 | 25760.27 | 80.99 | 17.25 |
Rest | 7090.59 | 6538.81 | 19.01 | 8.44 |
Total Exports | 37293.31 | 32299.08 | 100.00 | 15.46 |
Top 10 major commodity groups covering 81% of total imports in May 2022, are –
Statement 8: Imports of Top 10 Major Commodity Groups in May 2022 | ||||
| Value of Import (Million US$) | Share (%) | Growth (%) | |
Major Commodity Group | May-22 | May-21 | May-22 | May-22 over May-21 |
Petroleum, Crude & products | 18142.14 | 9468.96 | 29.93 | 91.60 |
Gold | 5825.26 | 677.67 | 9.61 | 759.60 |
Electronic goods | 5445.05 | 4239.80 | 8.98 | 28.43 |
Coal, Coke & Briquettes, etc. | 5333.79 | 1992.26 | 8.80 | 167.73 |
Machinery, electrical & non-electrical | 3118.47 | 2979.25 | 5.14 | 4.67 |
Organic & Inorganic Chemicals | 3069.10 | 2306.35 | 5.06 | 33.07 |
Pearls, precious & Semi-precious stones | 2636.36 | 2245.03 | 4.35 | 17.43 |
Artificial resins, plastic materials, etc. | 1994.15 | 1650.75 | 3.29 | 20.80 |
Vegetable Oil | 1650.95 | 1432.83 | 2.72 | 15.22 |
Transport equipment | 1630.86 | 1408.03 | 2.69 | 15.83 |
Total of 10 Major Commodity Groups | 48846.12 | 28400.94 | 80.57 | 71.99 |
Rest | 11778.38 | 10427.14 | 19.43 | 12.96 |
Total Imports | 60624.51 | 38828.07 | 100.00 | 56.14 |
Top 10 major commodity groups covering 80% of total exports in April –May 2022-23, are –
Statement 9: Exports of Top 10 Major Commodity Groups in April-May 2022-23 | ||||
| Value of Export (Million US$) | Share (%) | Growth (%) | |
Major Commodity Group | Apr’22-May’22 | Apr’21-May’21 | Apr’22-May’22 | APR-MAY 2022-23 vs APR-MAY 2021-22 |
Engineering goods | 18977.12 | 16597.70 | 24.62 | 14.34 |
Petroleum products | 15992.33 | 8938.94 | 20.75 | 78.91 |
Gems and Jewellery | 6569.37 | 6347.33 | 8.52 | 3.50 |
Organic and Inorganic chemicals | 5124.15 | 4208.52 | 6.65 | 21.76 |
Drugs and Pharmaceuticals | 4050.04 | 3767.40 | 5.25 | 7.50 |
Electronic goods | 3015.72 | 1925.08 | 3.91 | 56.65 |
RMG of all Textiles | 2935.73 | 2404.67 | 3.81 | 22.08 |
Cotton Yarn/Fabs./Madeups, Handloom products etc. | 2162.60 | 2171.24 | 2.81 | -0.40 |
Rice | 1629.10 | 1669.51 | 2.11 | -2.42 |
Plastic and Linoleum | 1526.27 | 1591.69 | 1.98 | -4.11 |
Total of 10 Major Commodity Groups | 61982.43 | 49622.09 | 80.42 | 24.91 |
Rest | 15095.34 | 13424.11 | 19.58 | 12.45 |
Total Exports | 77077.77 | 63046.20 | 100.00 | 22.26 |
Top 10 major commodity groups covering 81% of total imports in April-May 2022-23, are –
Statement 10: Imports of Top 10 Major Commodity Groups in April-May 2022-23 | ||||
| Value of Import (Million US$) | Share (%) | Growth (%) | |
Major Commodity Group | Apr’22-May’22 | Apr’21-May’21 | Apr’22-May’22 | APR-MAY 2022-23 vs APR-MAY 2021-22 |
Petroleum, Crude & products | 38263.36 | 20233.80 | 31.67 | 89.11 |
Electronic goods | 12163.38 | 9298.65 | 10.07 | 30.81 |
Coal, Coke & Briquettes, etc. | 10265.52 | 3996.82 | 8.50 | 156.84 |
Gold | 7549.36 | 6916.03 | 6.25 | 9.16 |
Machinery, electrical & non-electrical | 6532.89 | 6033.88 | 5.41 | 8.27 |
Organic & Inorganic Chemicals | 6479.89 | 4550.53 | 5.36 | 42.40 |
Pearls, precious & Semi-precious stones | 5230.62 | 4715.77 | 4.33 | 10.92 |
Artificial resins, plastic materials, etc. | 4013.18 | 3430.22 | 3.32 | 16.99 |
Non-ferrous metals | 3451.44 | 2579.76 | 2.86 | 33.79 |
Vegetable Oil | 3382.89 | 2721.97 | 2.80 | 24.28 |
Total of 10 Major Commodity Groups | 97332.54 | 64477.43 | 80.57 | 50.96 |
Rest | 23479.46 | 20389.88 | 19.43 | 15.15 |
Total Imports | 120812.00 | 84867.31 | 100.00 | 42.35 |
Merchandise export growth signals widening trade deficit as imports surge, driven by petroleum and gold demand. Merchandise exports rose 15.46% in May 2022 to USD 37.29 billion and were up 22.26% for April-May 2022 23 at USD 77.08 billion. Non petroleum exports and non petroleum non gems & jewellery exports grew in May and for the cumulative period. Imports increased more steeply-56.14% in May to USD 60.62 billion-resulting in a May trade deficit of USD 23.33 billion and an April-May deficit of USD 43.73 billion. Petroleum products, electronic goods and gold were principal import drivers; petroleum products, electronic goods and RMG led export gains.
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