India’s merchandise exports increased by 38.91% year-on-year to reach $37.81 billion in December 2021, the highest monthly figure on record, due to the strong performance of sectors such as the engineering, textiles and chemicals, according to data released by the Department of Trade and Industry on Friday, January 14.
Between April and December 2021-22, exports increased by 49.66% to $301.38 billion.
“Merchandise exports in December 2021 stood at $37.81 billion, compared to $27.22 billion in December 2020, showing a positive growth of 38.91%. Compared to December 2019, exports in December 2021 showed a positive growth of 39.47%,” the Ministry of Commerce said in a statement.
Main export products
Engineering goods, petroleum products, medicines and pharmaceuticals, gemstones and jewelry, organic and inorganic chemicals were the main exported goods.
In December 2021, exports of engineering goods increased by 38.41% to $9.8 billion, followed by petroleum products (up 151% to $5.88 billion), precious stones and jewelry (up 16.4% to around $3 billion), chemicals (up 26.86%). percent to $2.66 billion) and all-textile ready-to-wear (+22.63 percent to $1.46 billion).
Services exports stood at $20.07 billion in December 2021
The data also indicates that the estimated value of services exports for December 2021 was $20.07 billion, an increase of 5.26% compared to the same month of 2020.
Non-oil and non-gems and jewelry exports, also known as core exports, grew nearly 30% annually to $28.92 billion.
Services exports amounted to $177.68 billion in April-December 2021
The estimated value of services exports for April-December 2021 is $177.68 billion, a positive growth of 18.39% compared to April-December 2020 ($150.09 billion).