India Exports Grow 14.66% in Apr–May 2026; Trade at $162.69B

New Delhi, June 15, 2026: India’s total exports (merchandise and services combined) recorded strong growth of 14.66% during April–May 2026–27, reaching an estimated US$ 162.69 billion, compared to US$ 141.89 billion in the same period last year, according to official trade estimates released on Monday.

Despite a widening trade deficit, the country’s external sector continued to show resilience driven by strong performance in petroleum, engineering, chemicals, and electronics exports.

Total Trade Performance (April–May 2026–27)

• Total Exports: US$ 162.69 billion (↑14.66%)

• Total Imports: US$ 182.83 billion (↑14.38%)

• Trade Deficit: US$ 20.13 billion

The growth reflects steady global demand for Indian goods and services, even as imports also rose due to increased domestic consumption and input requirements.

Merchandise Exports Show Strong Growth

Merchandise exports during April–May 2026–27 rose to US$ 88.91 billion, up 16.09% from the previous year.

Key highlights include:

• Petroleum Products: ↑54.89% to US$ 8.42 billion

• Engineering Goods: ↑24.48% to US$ 12.31 billion

• Organic & Inorganic Chemicals: ↑12.71% to US$ 2.72 billion

• Electronic Goods: ↑11.62% to US$ 5.10 billion

• Gems & Jewellery: ↑6.66% to US$ 2.53 billion

Non-petroleum exports also grew steadily by 10.49%, reaching US$ 70.74 billion.

Imports Also Increase

Merchandise imports climbed to US$ 145.35 billion, reflecting higher demand for energy, raw materials, and industrial inputs.

Services Sector Remains a Strong Driver

India’s services exports continue to play a major role in strengthening the external sector.

• Services Exports: US$ 73.79 billion (↑13%)

• Services Imports: US$ 37.48 billion

• Services Trade Surplus: US$ 36.31 billion

The services sector remains a key contributor to India’s positive trade balance.

May 2026 Monthly Trade Snapshot

• Total Exports: US$ 81.96 billion (↑15.83%)

• Total Imports: US$ 92.47 billion (↑19.23%)

• Trade Deficit: US$ 10.51 billion

Merchandise exports alone stood at US$ 45.20 billion, while imports reached US$ 73.41 billion.

Sector-Wise Export Growth Highlights

Several sectors recorded strong growth in May 2026:

• Petroleum Products: ↑54.89%

• Engineering Goods: ↑24.48%

• Chemicals: ↑12.71%

• Electronics: ↑11.62%

• Gems & Jewellery: ↑6.66%

• Drugs & Pharmaceuticals: ↑6.13%

Global Trade Drivers

India’s export performance was supported by rising demand from key markets:

• Singapore (↑123.75% in April–May)

• Sri Lanka (↑183.32%)

• Tanzania (↑172.22%)

• South Africa (↑62.24%)

• China (↑25.85%)

Major import growth was observed from Russia, China, Oman, USA, and Brazil.

Outlook

The steady rise in both merchandise and services exports indicates continued strength in India’s external trade position, supported by diversified export sectors and expanding global market access.

However, rising imports and a widening trade deficit remain areas to monitor in the coming months.