India’s merchandise export jumped 15.46% to $37.3 billion in May 2022

NEW DELHI: India’s merchandise export in May 2022 was $37.29 billion, 15.46% year-on-year increase compared to $32.30 billion in May 2021, according to official data released on Thursday.India’s merchandise export 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.Value of non-petroleum exports in May 2022 was $29.18 billion, registering a positive growth of 8.13% over non-petroleum exports of $26.99 billion in May 2021. Value of non-petroleum and non-gems and jewellery exports in May 2022 was $26.08 billion, registering a positive growth of 8.57% over non-petroleum and non-gems and jewellery exports of $24.02 billion in May 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -May 2022-23 was $54.52 billion, an increase of 14.15% over cumulative value of non-petroleum and non-gems and jewellery exports of $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