Finance
INDIA’S MERCHANDISE TRADE: Preliminary Data of May 2022
India has achieved monthly value of merchandise export in May 2022 amounting USD 37.29 billion, an increase of 15.46% over USD 32.30 billion in May 2021. India’s merchandise export in April -May 2022-23 was USD 77.08 billion with an increase of 22.26% over USD 63.05 billion in April -May 2021-22.
Value of non-petroleum exports in May 2022 was 29.18 USD billion, registering a positive growth of 8.13% over non-petroleum exports of USD 26.99 billion in May 2021. The cumulative value of non-petroleum exports in April -May 2022-23 was USD 61.09 billion, an increase of 12.9% over USD 54.11 billion in April -May 2021-22.
Value of non-petroleum and non-gems and jewellery exports in May 2022 was USD 26.08 billion, registering a positive growth of 8.57% over non-petroleum and non-gems and jewellery exports of USD 24.02 billion in May 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -May 2022-23 was USD 54.52 billion, an increase of 14.15% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 47.76 billion in April -May 2021-22.
Petroleum products (52.71%), Electronic goods (41.46%) and RMG of all Textiles (22.94%) led the way in high increase in exports during May 2022.
India’s merchandise import in May 2022 was USD 60.62 billion, an increase of 56.14% over USD 38.83 billion in May 2021. India’s merchandise imports in April -May 2022-23 was USD 120.81 billion with an increase of 42.35% over USD 84.87 billion in April -May 2021-22.
Value of non-petroleum imports was USD 42.48 billion in May 2022 with a positive growth of 44.7% over non-petroleum imports of USD 29.36 billion in May 2021. The cumulative value of non-petroleum imports in April -May 2022-23 was USD 82.55 billion, showing an increase of 27.72% compared to non-oil imports of USD 64.63 billion in April -May 2021-22.
Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 33.61 billion in May 2022 with a positive growth of 27.2% over non-oil and non-GJ imports of USD 26.42 billion in May 2021. Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April -May 2022-23 was USD 69.25 billion, recording a positive growth of 30.71%, as compared to non-oil and non-GJ imports of USD 52.97 billion in April -May 2021-22.
The trade deficit in May 2022 was USD 23.33 billion, while it was 43.73 billion USD during April -May 2022-23.
| Statement 1: India’s Total Trade in Merchandise goods in May 2022 | |||
| Value in Billion USD | % Growth | ||
| MAY’22 | MAY’21 | MAY’22 vs MAY’21 | |
| Exports | 37.29 | 32.30 | 15.46 |
| Imports | 60.62 | 38.83 | 56.14 |
| Deficit | 23.33 | 6.53 | – |
| Statement 2: India’s Total Trade in Merchandise goods in April-May 2022-23 | |||
| Value in Billion USD | % Growth | ||
| APR’22-MAY’22 | APR’21-MAY’21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
| Exports | 77.08 | 63.05 | 22.26 |
| Imports | 120.81 | 84.87 | 42.35 |
| Deficit | 43.73 | 21.82 | – |
| Statement 3: Merchandise Non-POL Trade in May 2022 | |||
| Value in Billion USD | % Growth | ||
| MAY’22 | MAY’21 | MAY’22 vs MAY’21 | |
| Exports | 29.18 | 26.99 | 8.13 |
| Imports | 42.48 | 29.36 | 44.70 |
| Statement 4: Merchandise Non-POL Trade in April-May 2022-23 | |||
| Value in Billion USD | % Growth | ||
| APR’22-MAY’22 | APR’21-MAY’21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
| Exports | 61.09 | 54.11 | 12.90 |
| Imports | 82.55 | 64.63 | 27.72 |
| Statement 5: Merchandise Non-POL Non-GJ Trade in May 2022 | |||
| Value in Billion USD | % Growth | ||
| MAY’22 | MAY’21 | MAY’22 vs MAY’21 | |
| Exports | 26.08 | 24.02 | 8.57 |
| Imports | 33.61 | 26.42 | 27.20 |
| Statement 6: Merchandise Non-POL Non-GJ Trade in April-May 2022-23 | |||
| Value in Billion USD | % Growth | ||
| APR’22-MAY’22 | APR’21-MAY’21 | APR-MAY 2022-23 vs APR-MAY 2021-22 | |
| Exports | 54.52 | 47.76 | 14.15 |
| Imports | 69.25 | 52.97 | 30.71 |
Top 10 major commodity groups covering 81% of total exports in May 2022, are –
| Statement 7: Exports of Top 10 Major Commodity Groups in May 2022 | ||||
| Value of Export (Million US$) | Share (%) | Growth (%) | ||
| Major Commodity Group | May-22 | May-21 | May-22 | May-22 over May-21 |
| Engineering goods | 9299.44 | 8623.65 | 24.94 | 7.84 |
| Petroleum products | 8113.89 | 5313.28 | 21.76 | 52.71 |
| Gems and Jewellery | 3102.48 | 2968.19 | 8.32 | 4.52 |
| Organic and Inorganic chemicals | 2446.71 | 2182.94 | 6.56 | 12.08 |
| Drugs and Pharmaceuticals | 1983.15 | 1874.83 | 5.32 | 5.78 |
| RMG of all Textiles | 1360.95 | 1107.00 | 3.65 | 22.94 |
| Electronic goods | 1339.10 | 946.66 | 3.59 | 41.46 |
| Cotton Yarn/Fabs./Madeups, Handloom products etc. | 1005.07 | 1106.04 | 2.70 | -9.13 |
| Rice | 822.45 | 773.91 | 2.21 | 6.27 |
| Plastic and Linoleum | 729.45 | 863.79 | 1.96 | -15.55 |
| Total of 10 Major Commodity Groups | 30202.72 | 25760.27 | 80.99 | 17.25 |
| Rest | 7090.59 | 6538.81 | 19.01 | 8.44 |
| Total Exports | 37293.31 | 32299.08 | 100.00 | 15.46 |
Top 10 major commodity groups covering 81% of total imports in May 2022, are –
| Statement 8: Imports of Top 10 Major Commodity Groups in May 2022 | ||||
| Value of Import (Million US$) | Share (%) | Growth (%) | ||
| Major Commodity Group | May-22 | May-21 | May-22 | May-22 over May-21 |
| Petroleum, Crude & products | 18142.14 | 9468.96 | 29.93 | 91.60 |
| Gold | 5825.26 | 677.67 | 9.61 | 759.60 |
| Electronic goods | 5445.05 | 4239.80 | 8.98 | 28.43 |
| Coal, Coke & Briquettes, etc. | 5333.79 | 1992.26 | 8.80 | 167.73 |
| Machinery, electrical & non-electrical | 3118.47 | 2979.25 | 5.14 | 4.67 |
| Organic & Inorganic Chemicals | 3069.10 | 2306.35 | 5.06 | 33.07 |
| Pearls, precious & Semi-precious stones | 2636.36 | 2245.03 | 4.35 | 17.43 |
| Artificial resins, plastic materials, etc. | 1994.15 | 1650.75 | 3.29 | 20.80 |
| Vegetable Oil | 1650.95 | 1432.83 | 2.72 | 15.22 |
| Transport equipment | 1630.86 | 1408.03 | 2.69 | 15.83 |
| Total of 10 Major Commodity Groups | 48846.12 | 28400.94 | 80.57 | 71.99 |
| Rest | 11778.38 | 10427.14 | 19.43 | 12.96 |
| Total Imports | 60624.51 | 38828.07 | 100.00 | 56.14 |
Top 10 major commodity groups covering 80% of total exports in April –May 2022-23, are –
| Statement 9: Exports of Top 10 Major Commodity Groups in April-May 2022-23 | ||||
| Value of Export (Million US$) | Share (%) | Growth (%) | ||
| Major Commodity Group | Apr’22-May’22 | Apr’21-May’21 | Apr’22-May’22 | APR-MAY 2022-23 vs APR-MAY 2021-22 |
| Engineering goods | 18977.12 | 16597.70 | 24.62 | 14.34 |
| Petroleum products | 15992.33 | 8938.94 | 20.75 | 78.91 |
| Gems and Jewellery | 6569.37 | 6347.33 | 8.52 | 3.50 |
| Organic and Inorganic chemicals | 5124.15 | 4208.52 | 6.65 | 21.76 |
| Drugs and Pharmaceuticals | 4050.04 | 3767.40 | 5.25 | 7.50 |
| Electronic goods | 3015.72 | 1925.08 | 3.91 | 56.65 |
| RMG of all Textiles | 2935.73 | 2404.67 | 3.81 | 22.08 |
| Cotton Yarn/Fabs./Madeups, Handloom products etc. | 2162.60 | 2171.24 | 2.81 | -0.40 |
| Rice | 1629.10 | 1669.51 | 2.11 | -2.42 |
| Plastic and Linoleum | 1526.27 | 1591.69 | 1.98 | -4.11 |
| Total of 10 Major Commodity Groups | 61982.43 | 49622.09 | 80.42 | 24.91 |
| Rest | 15095.34 | 13424.11 | 19.58 | 12.45 |
| Total Exports | 77077.77 | 63046.20 | 100.00 | 22.26 |
Top 10 major commodity groups covering 81% of total imports in April-May 2022-23, are –
| Statement 10: Imports of Top 10 Major Commodity Groups in April-May 2022-23 | ||||
| Value of Import (Million US$) | Share (%) | Growth (%) | ||
| Major Commodity Group | Apr’22-May’22 | Apr’21-May’21 | Apr’22-May’22 | APR-MAY 2022-23 vs APR-MAY 2021-22 |
| Petroleum, Crude & products | 38263.36 | 20233.80 | 31.67 | 89.11 |
| Electronic goods | 12163.38 | 9298.65 | 10.07 | 30.81 |
| Coal, Coke & Briquettes, etc. | 10265.52 | 3996.82 | 8.50 | 156.84 |
| Gold | 7549.36 | 6916.03 | 6.25 | 9.16 |
| Machinery, electrical & non-electrical | 6532.89 | 6033.88 | 5.41 | 8.27 |
| Organic & Inorganic Chemicals | 6479.89 | 4550.53 | 5.36 | 42.40 |
| Pearls, precious & Semi-precious stones | 5230.62 | 4715.77 | 4.33 | 10.92 |
| Artificial resins, plastic materials, etc. | 4013.18 | 3430.22 | 3.32 | 16.99 |
| Non-ferrous metals | 3451.44 | 2579.76 | 2.86 | 33.79 |
| Vegetable Oil | 3382.89 | 2721.97 | 2.80 | 24.28 |
| Total of 10 Major Commodity Groups | 97332.54 | 64477.43 | 80.57 | 50.96 |
| Rest | 23479.46 | 20389.88 | 19.43 | 15.15 |
| Total Imports | 120812.00 | 84867.31 | 100.00 | 42.35 |
Source:PIB
