The commerce ministry in its latest data has said that India’s merchandise exports rose 20.55 per cent to $38.94 billion in May 2022 as compared to $32.30 billion in May 2021. Merchandise imports in May 2022 were $63.22 Billion, which is an increase of 62.83 per cent over imports of $38.83 Billion in May 2021. The trade deficit widened to $24.29 billion in May 2022 from $6.53 billion from the year-ago period.
As per the data, cumulative value of exports for the period April-May 2022 was $78.72 billion as against $63.05 billion during the period April-May 2021, registering a positive growth of 24.86%. Cumulative value of imports for the period April-May 2022 was $123.41 billion, as against $84.87 billion during the period April-May 2021, registering a positive growth of 45.42%. The trade deficit during the first two months of this fiscal widened to $44.69 billion against $21.82 billion in the year-ago period.
It further showed that Non-petroleum and non-gems & jewellery exports in May 2022 were $27.16 billion, registering a positive growth of 13.10 per cent over $24.02 billion in May 2021. Non-petroleum and non-gems & jewellery exports during April-May 2022 was $55.60 billion, an increase of 16.42 per cent over $47.76 billion in April-May 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $34.79 billion in May 2022 with a positive growth of 31.66 per cent over $26.42 billion in May 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $70.42 billion in April-May 2022, recording a positive growth of 32.94 per cent, as compared to $52.97 billion in April-May 2021.
