India’s Merchandise Trade – May 2022

Sanika Chitale Jun 18, 2022 0

As per the data released by the Ministry of Commerce & Industry, India’s merchandise exports were USD 38.94 Billion in May 2022 compared to USD 32.30 Billion in May 2021, registering a 20.55% growth.

The imports increased from USD 38.83 Billion in May 2021 to USD 63.22 Billion in May 2022, i.e., a growth of 62.83% Y-o-Y.

May 2022
(USD Billion)
May 2021
(USD Billion)
Percentage change
(Y-o-Y)
Exports38.9432.3020.55%
Imports63.2238.8362.83%
Trade Balance-24.29-6.53-271.96%

The merchandise trade deficit increased sharply, from USD 6.53 Billion in May 2021 to USD 24.29 Billion in May 2022, showing a 271.96% change Y-o-Y.

It continued to increase due to a sharp rise in imports compared to exports, mainly of Silver, Gold, Coal, Coke & Briquettes, etc. and Petroleum, Crude & products. The imports of these commodities increased by 2800.06%, 789.20%, 172.10%, and 102.72% respectively, compared to May 2021.

Export Growth in Commodity Groups in May 2022

Import Growth in Commodity Groups in May 2022:

Sources

  1. INDIA’S FOREIGN TRADE: May 2022
  2. Trade deficit gallops past the $24 bn mark — highest ever

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