Overall exports in May rise 24% year-on-year

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IANS | 15 Jun, 2022
India's overall exports in May, merchandise and services combined, were estimated to be worth $62.21 billion, exhibiting a positive growth of 24.03 per cent over the same period last year, an official statement said on Wednesday.

Breaking it up, the merchandise exports in May were at $38.94 billion, as compared to $32.30 billion in May 2021, and the estimated value of services export is $23.28 billion, as against $17.86 billion in the same month last year.

During April-May, the first two months of FY23, India's overall exports were estimated to be worth $124.59 billion, up 25.90 per cent over the same period last fiscal.

On the contrary, the overall imports in May were estimated to be $77.65 billion, exhibiting a positive growth of 59.19 per cent over the same period last year, while the overall imports in April-May were at $151.89 billion, up 45.44 per cent year on year.