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Merchandise export rose by 20% to $38.94 bn in May




Merchandise export rose by 20% to $38.94 bn in May

New Delhi, June 15 (KNN) The merchandise export in May 2022 marked at USD 38.94 billion compared to USD 32.30 Billion in May 2021.The service export were USD 23.28 Billion, exhibiting a positive growth of 30.32 per cent vis-a-vis May 2021 (USD 17.86 Billion).

The overall exports combining Merchandise and Services estimated to be USD 62.21 billion in May 2022, exhibiting a jump of 24 per cent over the same period last year, said the Ministry of Commerce and Industry.

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Petroleum products, Electronic goods, Leather products, coffee, cereal preparations and oil meals lead the way in exports growth.

Engineering goods continued to dominate India’s overall trade. Engineering exports touched USD 9.7 billion in May 2022, rising 12.65 percent year-on-year over May 2021.

Processed petroleum was the second-largest export category, seeing the biggest growth in May as exports rose by 60 percent to USD 8.5 billion, owing to higher global crude oil prices.

The value of non-petroleum and non-gems and jewellery exports in May 2022 was USD 27.2 billion, registering an annual growth of 13.1 percent.

India’s overall exports (merchandise and services combined) in April-May 2022 grew 25.90 per cent to USD 124.59 billion over the same period last.  (KNN Bureau)



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