India’s overall exports (Merchandise and Services combined) in June 2022* are estimated to be USD 64.91 Billion, exhibiting a positive growth of 22.95 per cent over the same period last year. The overall exports (Merchandise and Services combined) in the 1st quarter of FY 22-23 (April-June 2022)* are estimated to be USD 189.93 Billion, exhibiting a positive growth of 25.16 per cent over the same period last.
The overall imports in June 2022* are estimated to be USD 82.42 Billion, exhibiting a positive growth of 55.72 per cent over the same period last year. In the 1st quarter of the FY22-23, the overall exports are estimated to be USD 235.11 Billion, exhibiting a positive growth of 49.41 per cent over the same period last year.
Table 1: Trade during June 2022*
| June 2022
(USD Billion) |
June 2021
(USD Billion) |
Growth vis-à-vis June 2021 (%) | ||
| Merchandise | Exports | 40.13 | 32.49 | 23.52 |
| Imports | 66.31 | 42.09 | 57.55 | |
| Trade Balance | -26.18 | -9.60 | -172.72 | |
| Services* | Exports | 24.77 | 20.30 | 22.04 |
| Imports | 16.11 | 10.84 | 48.62 | |
| Net of Services | 8.67 | 9.46 | -8.41 | |
| Overall Trade (Merchandise+
Services) * |
Exports | 64.91 | 52.79 | 22.95 |
| Imports | 82.42 | 52.93 | 55.72 | |
| Trade Balance | -17.51 | -0.14 | -12596.34 |
* Note: The latest data for services sector released by RBI is for May 2022. The data for June 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-June 2021 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during June 2022*
Table 2: Trade during April-June 2022*
| April-June 2022
(USD Billion) |
April-June 2021
(USD Billion) |
Growth vis-à-vis April-June 2021 (%) | ||
| Merchandise | Exports | 118.96 | 95.54 | 24.51 |
| Imports | 189.76 | 126.96 | 49.47 | |
| Trade Balance | -70.80 | -31.42 | -125.34 | |
| Services* | Exports | 70.97 | 56.22 | 26.25 |
| Imports | 45.35 | 30.41 | 49.15 | |
| Net of Services | 25.62 | 25.81 | -0.74 | |
| Overall Trade (Merchandise+
Services) * |
Exports | 189.93 | 151.75 | 25.16 |
| Imports | 235.11 | 157.37 | 49.41 | |
| Trade Balance | -45.18 | -5.61 | -705.12 |
* Note: The latest data for services sector released by RBI is for May 2022. The data for June 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-June 2021 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 2: Overall Trade during April-June 2022*
MERCHANDISE TRADE
Fig 3: Merchandise Trade during June 2022
Fig 4: Merchandise Trade during April-June 2022
Table 3: Trade excluding Petroleum and Gems & Jewellery during June 2022
| June 2022
(USD Billion) |
June 2021
(USD Billion) |
Growth vis-à-vis June 2021 (%) | |
| Non- petroleum exports | 31.48 | 28.54 | 10.30 |
| Non- petroleum imports | 45.01 | 31.41 | 43.30 |
| Non-petroleum & Non Gems & Jewellery exports | 27.94 | 25.71 | 8.65 |
| Non-petroleum & Non Gems & Jewellery imports | 38.53 | 27.86 | 38.30 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during June 2022
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-June 2022
| April-June 2022
(USD Billion) |
April-June 2021
(USD Billion) |
Growth vis-à-vis April-June 2021 (%) | |
| Non- petroleum exports | 93.85 | 82.65 | 13.56 |
| Non- petroleum imports | 129.12 | 96.04 | 34.43 |
| Non-petroleum & Non Gems & Jewellery exports | 83.62 | 73.47 | 13.81 |
| Non-petroleum & Non Gems & Jewellery imports | 108.97 | 80.83 | 34.80 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-June 2022
SERVICES TRADE
Fig 7: Services Trade during June 2022*
Fig 8: Services Trade during April-June 2022*
Table 5: Export Growth in Commodity Groups in June 2022
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| JUN’21 | JUN’22 | JUN’22 | ||
| Commodity groups exhibiting positive growth | ||||
| 1 | Petroleum Products | 3952.25 | 8656.68 | 119.03 |
| 2 | Other cereals | 88.32 | 153.99 | 74.35 |
| 3 | Electronic Goods | 1043.10 | 1676.24 | 60.70 |
| 4 | RMG of all Textiles | 1001.81 | 1500.91 | 49.82 |
| 5 | Rice | 742.70 | 1061.37 | 42.91 |
| 6 | Leather & leather products | 325.00 | 450.42 | 38.59 |
| 7 | Oil seeds | 78.30 | 101.54 | 29.68 |
| 8 | Mica, Coal & Other Ores, Minerals including processed minerals | 380.61 | 492.07 | 29.28 |
| 9 | Cereal preparations & miscellaneous processed items | 198.90 | 254.53 | 27.97 |
| 10 | Coffee | 85.54 | 108.18 | 26.47 |
| 11 | Gems & Jewellery | 2824.44 | 3538.67 | 25.29 |
| 12 | Oil Meals | 110.18 | 134.34 | 21.93 |
| 13 | Jute Mfg. including Floor Covering | 34.22 | 41.72 | 21.92 |
| 14 | Tea | 53.06 | 64.05 | 20.71 |
| 15 | Meat, dairy & poultry products | 329.61 | 386.41 | 17.23 |
| 16 | Ceramic products & glassware | 292.42 | 332.36 | 13.66 |
| 17 | Marine Products | 645.66 | 724.54 | 12.22 |
| 18 | Organic & Inorganic Chemicals | 2666.23 | 2917.85 | 9.44 |
| 19 | Tobacco | 95.05 | 100.84 | 6.09 |
| 20 | Drugs & Pharmaceuticals | 2021.42 | 2119.08 | 4.83 |
| 21 | Engineering Goods | 9295.58 | 9576.26 | 3.02 |
| 22 | Spices | 318.69 | 326.03 | 2.30 |
| 23 | Fruits & Vegetables | 206.05 | 206.72 | 0.33 |
| 24 | Man-made Yarn/Fabs./made-ups etc. | 448.92 | 450.00 | 0.24 |
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| JUN’21 | JUN’22 | JUN’22 | ||
| Commodity Groups exhibiting negative growth | ||||
| 25 | Iron Ore | 509.65 | 11.16 | -97.81 |
| 26 | Handicrafts excl. handmade carpet | 162.64 | 115.99 | -28.68 |
| 27 | Plastic & Linoleum | 979.51 | 783.48 | -20.01 |
| 28 | Cotton Yarn/Fabs./made-ups, Handloom Products etc. | 1194.50 | 961.73 | -19.49 |
| 29 | Carpet | 143.00 | 130.17 | -8.97 |
| 30 | Cashew | 24.53 | 23.09 | -5.87 |
Table 6: Import Growth in Commodity Groups in June 2022
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| JUN’21 | JUN’22 | JUN’22 | ||
| Commodity Groups exhibiting positive growth | ||||
| 1 | Silver | 11.83 | 785.52 | 6540.07 |
| 2 | Coal, Coke & Briquettes, etc. | 1875.60 | 6762.58 | 260.56 |
| 3 | Gold | 969.02 | 2740.50 | 182.81 |
| 4 | Petroleum, Crude & products | 10678.42 | 21300.85 | 99.48 |
| 5 | Cotton Raw & Waste | 68.79 | 125.66 | 82.67 |
| 6 | Textile yarn Fabric, made-up articles | 146.61 | 257.60 | 75.70 |
| 7 | Sulphur & Unroasted Iron Pyrts | 27.22 | 47.17 | 73.29 |
| 8 | Metaliferrous ores & other minerals | 553.97 | 922.50 | 66.53 |
| 9 | Artificial resins, plastic materials, etc. | 1464.98 | 2253.90 | 53.85 |
| 10 | Organic & Inorganic Chemicals | 2454.65 | 3511.73 | 43.06 |
| 11 | Leather & leather products | 71.48 | 98.41 | 37.67 |
| 12 | Electronic goods | 4600.54 | 6108.12 | 32.77 |
| 13 | Pulp and Waste paper | 118.54 | 154.37 | 30.23 |
| 14 | Newsprint | 35.86 | 46.62 | 30.01 |
| 15 | Vegetable Oil | 1435.43 | 1816.07 | 26.52 |
| 16 | Project goods | 75.01 | 94.02 | 25.34 |
| 17 | Fertilisers, Crude & manufactured | 1039.06 | 1297.17 | 24.84 |
| 18 | Dyeing/tanning/colouring mtrls. | 288.83 | 356.95 | 23.58 |
| 19 | Fruits & vegetables | 201.66 | 240.41 | 19.22 |
| 20 | Machinery, electrical & non-electrical | 3179.83 | 3783.26 | 18.98 |
| 21 | Wood & Wood products | 564.53 | 670.69 | 18.81 |
| 22 | Iron & Steel | 1357.17 | 1580.78 | 16.48 |
| 23 | Pearls, precious & Semi-precious stones | 2571.76 | 2957.02 | 14.98 |
| 24 | Chemical material & products | 1017.95 | 1147.55 | 12.73 |
| 25 | Non-ferrous metals | 1457.19 | 1638.00 | 12.41 |
| Sl. No. | Commodities | (Values in Million USD) | % Change | |
| JUN’21 | JUN’22 | JUN’22 | ||
| Commodity Groups exhibiting negative growth | ||||
| 26 | Pulses | 138.12 | 72.25 | -47.69 |
| 27 | Medicinal & Pharmaceutical products | 1245.86 | 711.87 | -42.86 |
| 28 | Professional instrument, Optical goods, etc. | 717.00 | 576.67 | -19.57 |
| 29 | Machine tools | 373.29 | 360.99 | -3.30 |
| 30 | Transport equipment | 1410.29 | 1387.78 | -1.60 |
Table 7: MERCHANDISE TRADE
| EXPORTS & IMPORTS: (Rs. Crore) | ||
| (PROVISIONAL) | ||
| JUNE | APRIL-JUNE | |
| EXPORTS (including re-exports) | ||
| 2021-22 | 2,38,996.21 | 7,04,624.72 |
| 2022-23 | 3,13,342.50 | 9,18,217.77 |
| %Growth 2022-23/2021-22 | 31.11 | 30.31 |
| IMPORTS | ||
| 2021-22 | 3,09,605.31 | 9,36,954.02 |
| 2022-23 | 5,17,727.41 | 14,65,271.90 |
| %Growth 2022-23/2021-22 | 67.22 | 56.39 |
| TRADE BALANCE | ||
| 2021-22 | -70,609.10 | -2,32,329.30 |
| 2022-23 | -2,04,384.91 | -5,47,054.13 |
Table 8: SERVICES TRADE
| EXPORTS & IMPORTS (SERVICES) : (US $ Billion) | ||
| (PROVISIONAL) | May 2022 | April-May 2022 |
| EXPORTS (Receipts) | 23.61 | 46.20 |
| IMPORTS (Payments) | 15.20 | 29.25 |
| TRADE BALANCE | 8.41 | 16.95 |
| EXPORTS & IMPORTS (SERVICES): (Rs. Crore) | ||
| (PROVISIONAL) | May 2022 | April-May 2022 |
| EXPORTS (Receipts) | 1,82,519.94 | 3,54,613.47 |
| IMPORTS (Payments) | 1,17,486.68 | 2,24,517.67 |
| TRADE BALANCE | 65,033.26 | 1,30,095.80 |
| Source: RBI Press Release dated 1st July 2022 | ||
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