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.
- Electronic Goods export witnesses significant increase by 73.96 % in May 2023 as well as cumulatively in April-May 2023 by 48.06% over corresponding period last year
- Agricultural exports register robust growth; Spices grew by 31.81% in April-May 2023 over April-May 2022 while Rice exports grew by 19% in April-May 2023 over April-May 2022
- Oil Meals exports grew by 74.33% in April-May 2023 over April-May 2022
- Ceramic products & glassware show impressive growth with 17.36% in May 2023 and cumulatively by 17.29 % in April-May 2023 over the corresponding period last year
- Trade balance improves considerably in April-May 2023
- Overall trade deficit for April-May 2023 estimated at US$ 13.28 Billion as compared to the deficit of US$ 20.56 Billion during April-May 2022, registering a decline of (-) 35.41 %
- Merchandise trade deficit during April-May 2023 stands at US$ 37.26 Billion compared to US$ 40.48 Billion during April-May 2022, registering a decline of (-) 7.95 percent
