India’s exports of goods and services rise 2.8 pc to cross $71 billion in May amid global uncertainty
New Delhi, June 16: India’s total exports of merchandise and services for May this year are estimated at $71.12 billion, which represents a growth of 2.77 percent over the same month of the previous year, despite the rising geopolitical tensions and trade war triggered by the hike in US tariffs, official figures released by the Commerce Ministry on Wednesday showed.
The country’s total imports of merchandise and services for May are estimated at $ 77.75 billion, registering a decline of (-) 1.02 per cent vis-a-vis May last year.
The major drivers of merchandise exports growth in May include electronic goods, chemicals, drugs & pharmaceuticals, marine products and ready-made garments of all textiles.
The export of electronic goods, including smartphones, shot up by a robust 54.1 per cent from $2.97 billion in May 2024 to $4.57 billion in May 2025.
Chemicals exports increased by 16 per cent from $2.31 billion in to $2.68 billion during the month, while drugs & pharmaceuticals exports rose by 7.38 per cent from $2.31 billion in May last year to $2.48 billion in May this year.
Marine products exports jumped by 26.79 per cent to 0.73 billion in May, while overseas shipments of ready-made garments surged by 11.35 per cent to $1.51 billion during the month.
“Despite the global policy uncertainty regarding trade, we have done extremely well,” Commerce Secretary Sunil Barthwal told journalists.
India’s total exports during April-May are estimated at $142.43 billion, registering a growth of 5.75 per cent. Total imports during April-May are estimated at $159.57 billion, which represents a growth of 6.52 per cent.
The estimated value of services exports for May this year is $32.39 billion, up from $29.61 billion in the same month last year.
The estimated value of service exports during April-May has gone up to $65.24 billion as compared to $59.79 billion in the same period of the previous year.
The services trade surplus for April-May now works out to $31.19 billion as compared to $26.15 billion in the same two months of the previous year.
The top 5 export destinations for India exhibiting positive growth in May this year are the USA (16.93 per cent), China (25.04 per cent), Australia (35.36 per cent), Russia (48.11 per cent), and Germany (17.05 per cent), according to the Commerce Ministry statement.
IANS
