India’s merchandise exports rose 18 per cent to $45.2 billion while imports grew 20.62 per cent to $73.41 billion in May with the total trade deficit recorded at $28.21 billion, according to the Commerce Ministry data.
India’s merchandise exports rose to $88.91 billion during April-May 2026-27, marking a 16.09 per cent growth over the corresponding period last year, as per the government data.
The cumulative exports (merchandise and services combined) during April-May 2026-27 are estimated at US$ 162.69 billion, compared with US$ 141.89 billion in the same period last year, registering 14.66% growth, according to data released by the Ministry of Commerce & Industry.
Non-petroleum exports also witnessed strong momentum, rising to US$ 70.74 billion during the period, compared with US$ 64.03 billion a year ago, an increase of 10.49%.
Key contributors to merchandise export growth in May 2026 included petroleum products, engineering goods, organic and inorganic chemicals, electronic goods, and gems & jewellery.
Petroleum product exports jumped 54.89% to US$ 8.42 billion in May 2026 from US$ 5.44 billion in May 2025. Engineering goods exports increased 24.48% to US$ 12.31 billion, while organic and inorganic chemicals exports grew 12.71% to US$ 2.72 billion.
Electronic goods exports rose 11.62% to US$ 5.10 billion, while gems and jewellery exports increased 6.66% to US$ 2.53 billion during May 2026.
India’s total exports in May 2026 are estimated at US$ 81.96 billion, compared with US$ 70.76 billion in May 2025, reflecting a growth of 15.83%.
Imports during May 2026 stood at US$ 92.47 billion, higher than US$ 77.55 billion a year earlier, resulting in a trade deficit of US$ 10.51 billion.