India's exports rise to over $32 billion in May

India's exports rise to over $32 billion in May

New Delhi, June 2, 2021

India's merchandise exports rose to $32.21 billion in May, higher by 67.39 per cent over $19.24 billion in the same month of last year, preliminary official data showed on Wednesday.

The exports last month were also 7.93 per cent higher than the $29.85 billion recorded in May 2019.

The country's merchandise exports in April 2021 had risen to $30.63 billion.

As per the data, the value of non-petroleum exports rose 54.06 per cent last month to $26.94 billion over $17.49 billion in May 2020 and a growth of 8.08 per cent over $24.92 billion in May 2019.

"The value of non-petroleum and non-gems and jewellery exports in May 2021 was $ 23.97 billion, registering a positive growth of 45.96 per cent over $ 16.42 billion in May 2020 and a positive growth of 11.51 per cent over $ 21.5 billion in May 2019," an official statement on foreign trade said.

Similarly, India's merchandise imports in May 2021 were $38.53 billion, with an increase of 68.54 per cent over $22.86 billion in May 2020.

However, imports declined by 17.47 per cent from $46.68 billion in April 2019.

On the other hand, oil imports grew by 164.46 per cent to $9.45 billion from $3.57 billion in May 2020 and a negative growth of 24.94 per cent compared to $12.59 billion in May 2019.

"Non-oil imports in May 2021 was estimated at $29.08 billion, showing an increase of 50.77 per cent compared to $19.29 billion in May 2020 and a decrease of 14.71 per cent compared to $ 34.09 billion in May 2019."

"Non-oil, non-gems and jewellery (gold, silver & precious metals) imports was $ 26.14 billion in May 2021, recording a positive growth of 41.32 per cent, as compared to non-oil and non-GJ imports of $ 18.5 billion in May 2020 and a negative growth of 4.08 per cent over USD 27.25 billion in May 2019."

Consequently, trade deficit in May 2021 was $6.32 billion, which increased by 74.69 per cent over trade deficit of $3.62 billion in May 2020. It is lower by 62.49 per cent as compared to trade deficit of $ 16.84 billion in May 2019.

IANS

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