India’s overall exports in May 2023 stands at US$ 60.29 Billion

India’s overall exports (Merchandise and Services combined) in May 2023* is estimated to be USD 60.29 Billion, exhibiting a negative growth of (-) 5.99 per cent over May 2022. Overall imports in May 2023* is estimated to be USD 70.64 Billion, exhibiting a negative growth of (-) 7.45 per cent over May 2022.

Overall Trade during May 2023*

India’s overall exports (Merchandise and Services combined) in April-May 2023 is estimated to exhibit a negative growth of (-) 5.48 per cent over April-May 2022. Overall imports in April-May 2023 is estimated to exhibit a negative growth of (-) 9.63 per cent over April-May 2022.

MERCHANDISE TRADE

• Merchandise exports in May 2023 were USD 34.98 Billion, as compared to USD 39.00 Billion in May 2022.
• Merchandise imports in May 2023 were USD 57.10 Billion, as compared to USD 61.13 Billion in May 2022.

Fig 3: Merchandise Trade during May 2023

Merchandise exports for the period April-May 2023 were USD 69.72 Billion as against USD 78.70 Billion during April-May 2022.

Merchandise imports for the period April-May 2023 were USD 106.99 Billion as against USD 119.18 Billion during April-May 2022.

The merchandise trade deficit for April-May 2023 was estimated at USD 37.26 Billion as against USD 40.48 Billion during April-May 2022.

Fig 4: Merchandise Trade during April-May 2023

Non-petroleum and non-gems & jewellery exports in May 2023 were USD 26.22 Billion, compared to USD 27.30 Billion in May 2022.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in May 2023 were USD 35.88 Billion, compared to USD 35.29 Billion in May 2022.