Global exports of goods and services jump 24 in May

India’s total exports (goods and services combined) in May 2022 are estimated at $62.21 billion, showing a positive growth of 24.03% over the same period last year, the ministry said. of Trade and Industry.

Merchandise exports in May 2022 amounted to USD 38.94 billion, compared to USD 32.30 billion in May 2021, a growth of 20.55%. The estimated value of services exports for May 2022 is USD 23.28 billion, a growth of 30.32% compared to May 2021.

The ministry said India’s overall exports (goods and services combined) in April-May 2022 increased by 25.90 percent to $124.59 billion from the same period last.

India’s trade deficit in May widened to $24.29 billion from $6.53 billion a year ago, a government statement said on Wednesday.

May’s trade deficit was inflated by a surge in imports, which rose 62.83% year-on-year to $63.22 billion, while exports rose 20.55% to 38.94 billion, according to revised trade data released by the Department of Trade and Industry. .

Merchandise exports for the period April-May 2022 amounted to USD 78.72 billion compared to USD 63.05 billion during the period April-May 2021, registering a positive growth of 24.86%.

Meanwhile, overall imports (goods and services combined) in May 2022 are estimated at USD 77.65 billion, a growth of 59.19% compared to the same period last year.

Overall imports from April to May 2022 are estimated at $151.89 billion, showing a positive growth of 45.44 percent compared to the same period last year, he said.