Have India’s Exports of Goods and Services Increased Amid Global Uncertainty?
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Synopsis
India's exports have shown surprising resilience in May, reaching over $71 billion despite global trade tensions. A closer look reveals significant growth in key sectors like electronics and pharmaceuticals. What does this mean for the Indian economy moving forward?
Key Takeaways
- India's exports reached $71.12 billion in May.
- Growth of 2.77% compared to last year.
- Electronics exports surged by 54.1%.
- Services trade surplus hit $31.19 billion.
- Top export destinations include the USA and China.
New Delhi, June 16 (NationPress) The estimated total exports of goods and services from India for May this year stand at $71.12 billion, marking a growth of 2.77 percent compared to the same month last year, despite the escalating geopolitical tensions and ongoing trade wars fueled by increased US tariffs, as per the official data released by the Commerce Ministry on Wednesday.
In May, India’s total imports of goods and services are estimated at $77.75 billion, which reflects a decrease of (-1.02 percent) compared to May of the previous year.
Key contributors to the growth in merchandise exports during May include electronic goods, chemicals, drugs & pharmaceuticals, marine products, and ready-made garments from textiles.
The export of electronic goods, particularly smartphones, surged by an impressive 54.1 percent, rising from $2.97 billion in May 2024 to $4.57 billion in May 2025.
Exports in the chemical sector increased by 16 percent, climbing from $2.31 billion to $2.68 billion within the month, while the drugs and pharmaceuticals sector saw a rise of 7.38 percent, from $2.31 billion last May to $2.48 billion this year.
Marine products exports experienced a significant increase of 26.79 percent, totaling $0.73 billion, while shipments of ready-made garments grew by 11.35 percent, reaching $1.51 billion during the same period.
“Despite the global policy uncertainties surrounding trade, we have performed remarkably well,” stated Commerce Secretary Sunil Barthwal during a press briefing.
The overall exports for April-May are estimated at $142.43 billion, which signifies a growth of 5.75 percent. Meanwhile, total imports for the same period are estimated at $159.57 billion, indicating a growth of 6.52 percent.
For May this year, the estimated value of services exports stands at $32.39 billion, an increase from $29.61 billion in the same month last year.
Furthermore, the estimated value of service exports for April-May has risen to $65.24 billion compared to $59.79 billion during the same period last year.
The services trade surplus for April-May has now reached $31.19 billion, compared to $26.15 billion in the corresponding months of the previous year.
The top five export destinations for India showing positive growth in May include the USA (16.93 percent), China (25.04 percent), Australia (35.36 percent), Russia (48.11 percent), and Germany (17.05 percent), as per the statement from the Commerce Ministry.
Point of View
It is essential to recognize the resilience of India's export sector amidst global uncertainties. This data illustrates the strength and adaptability of Indian businesses, showcasing their potential to thrive despite external challenges. The government’s policies and support mechanisms will be vital in sustaining this momentum.
NationPress
16/06/2025
Frequently Asked Questions
What factors contributed to the rise in India's exports?
Key factors include significant growth in sectors like electronics, pharmaceuticals, and chemicals, which have shown robust performance despite global trade challenges.
How do the current export figures compare to previous years?
India's exports for May this year are estimated at $71.12 billion, representing a 2.77% increase compared to May of the previous year.
What are the main export destinations for India?
The top five destinations showing positive growth include the USA, China, Australia, Russia, and Germany.
What is the current trade surplus in services?
The services trade surplus for April-May is reported at $31.19 billion, an increase from the previous year.
How have imports fared during the same period?
Total imports for May are estimated at $77.75 billion, reflecting a decrease of 1.02% from the previous year.
