Overview In May 2022 India exported $39B and imported $63.2B, resulting in a negative trade balance of $24.2B. Between May 2021 and May 2022 the exports of India have increased by $7.01B (21.9%) from $32B to $39B, while imports increased by $25B (65.4%) from $38.2B to $63.2B.
Trade In May 2022, the top exports of India were Petroleum Products ($8.57B), Pearl, Precs, Semiprecs Stones ($2.25B), Iron And Steel ($1.82B), Drug Formulations, Biologicals ($1.58B), and Gold And Oth Precs Metl Jwlery ($963M). In May 2022 the top imports of India were Petroleum: Crude ($14.9B), Gold ($6.03B), Coal,Coke And Briquittes Etc ($5.42B), Petroleum Products ($4.31B), and Pearl, Precs, Semiprecs Stones ($2.77B).
Destinations In May 2022, India exported mostly to United States ($7.2B), United Arab Emirates ($2.5B), Netherlands ($1.62B), China ($1.62B), and Bangladesh ($1.26B), and imported mostly from China ($7.53B), United Arab Emirates ($4.98B), United States ($4.41B), Iraq ($3.65B), and Saudi Arabia ($3.53B).
Growth In May 2022, the increase in India's year-by-year exports was explained primarily by an increase in exports to United States ($514M or 11.6%), South Africa ($494M or 166%), and Australia ($293M or 142%), and product exports increase in Pearl, Precs, Semiprecs Stones ($403M or 22.8%), Iron Ore ($275M or 109%), and Rice(Other Than Basmoti) ($267M or 150%). In May 2022, the increase in India's year-by-year imports was explained primarily by an increase in imports from Switzerland ($1.43B or 158%), China ($660M or 11%), and South Africa ($366M or 78.2%), and product imports increase in Gold ($2.45B or 155%), Pearl, Precs, Semiprecs Stones ($735M or 50.2%), and Vegetable Oils ($298M or 35.6%).