India’s merchandise exports witness steep rise of over 67 % in May 2021

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India’s merchandise exports in the last month recorded a steep rise of over 67 per cent compared to the corresponding period last year. The Union Commerce & Industry Ministry has informed that in the month of May this year the total merchandise export from the country stood at over 32 billion US Dollars. It informed that the figure is nearly 8 per cent higher even when compared to the pre COVID statistics for the Month of May in 2019. Collectively the merchandise export for the month of April and May this year is more than 12.5 per cent as compared to the corresponding period in the year 2019.

The Commerce Ministry also informed that the merchandise imports in the first two months of the current financial year has been recorded to be 5.41 per cent less than that of the corresponding period in 2019. However due to the value of the imports pegged at around 38 billion US dollars , the country has registered a trade deficit of over 6 billion US dollars in the previous month.