India’s overall exports, comprising merchandise and services, have demonstrated strong resilience and sustained momentum during the first two months of the financial year 2026-27. The cumulative exports during April-May 2026-27 are estimated at US$ 162.69 Billion, as compared to US$ 141.89 Billion during the corresponding period of the previous year, registering an impressive growth of 14.66 per cent. The cumulative imports during the same period stood at US$ 182.83 Billion, reflecting a growth of 14.38 per cent.
During May 2026, India’s total exports (merchandise and services combined) are estimated at US$ 81.96 Billion, recording a positive growth of 15.83 per cent over May 2025. Total imports during the month are estimated at US$ 92.47 Billion, registering a growth of 19.23 per cent over the corresponding month of the previous year.
The country’s merchandise exports during April-May 2026-27 reached US$ 88.91 Billion, compared to US$ 76.59 Billion during April-May 2025-26, thereby registering a growth of 16.09 per cent. Merchandise imports during the period stood at US$ 145.35 Billion, as against US$ 126.24 Billion in the corresponding period last year.
Significantly, non-petroleum exports continued to display robust performance. The cumulative value of non-petroleum exports during April-May 2026-27 amounted to US$ 70.74 Billion, reflecting an increase of 10.49 per cent over US$ 64.03 Billion recorded during April-May 2025-26.
Among the major sectors contributing to the growth of merchandise exports during May 2026, Petroleum Products, Engineering Goods, Organic and Inorganic Chemicals, Electronic Goods, and Gems & Jewellery emerged as key drivers.
Exports of Petroleum Products increased substantially by 54.89 per cent, rising from US$ 5.44 Billion in May 2025 to US$ 8.42 Billion in May 2026. Similarly, Engineering Goods exports registered a healthy growth of 24.48 per cent, increasing from US$ 9.89 Billion to US$ 12.31 Billion during the same period.
Exports of Organic and Inorganic Chemicals rose by 12.71 per cent, reaching US$ 2.72 Billion in May 2026 compared with US$ 2.41 Billion in May 2025. Electronic Goods exports also maintained a positive trajectory, recording a growth of 11.62 per cent to touch US$ 5.10 Billion, up from US$ 4.57 Billion during the corresponding month of the previous year.
The Gems and Jewellery sector witnessed a growth of 6.66 per cent, with exports increasing from US$ 2.38 Billion in May 2025 to US$ 2.53 Billion in May 2026, indicating improving global demand in the sector.
India’s services exports also posted encouraging performance. The estimated value of services exports during April-May 2026-27 stood at US$ 73.79 Billion, compared to US$ 65.30 Billion during the same period last year, reflecting a growth of 12.99 per cent. Services imports during the period are estimated at US$ 37.48 Billion, resulting in a services trade surplus of US$ 36.31 Billion.
Several export categories recorded notable growth during May 2026. These include Other Cereals (262.73%), Meat, Dairy and Poultry Products (42.51%), Oil Meals (24.61%), Handicrafts excluding Handmade Carpets (23.85%), Plastic and Linoleum Products (21.82%), Iron Ore (14.76%), Drugs and Pharmaceuticals (6.13%), Rice (5.38%), Coffee (4.37%), and Cotton Yarn and Handloom Products (1.89%).
On the geographical front, the top export destinations exhibiting positive growth during May 2026 included Singapore, South Africa, Tanzania, Italy, and Sri Lanka, while major import sources showing significant growth were Russia, China, the United States, Oman, and Brazil.
The latest trade figures underscore the resilience and competitiveness of India’s export sector amid evolving global economic conditions. The sustained growth in both merchandise and services exports reflects the effectiveness of policy interventions aimed at promoting trade diversification, enhancing manufacturing competitiveness, and expanding market access for Indian products and services worldwide.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2273044®=48&lang=1
