India’s goods exports reached a record $45.2 billion in May 2026, marking an 18 percent rise from the same month a year earlier, official figures show. Even so, the country’s overall trade deficit grew to $10.5 billion because imports of goods and services increased at a faster pace.
Figures from the Ministry of Commerce and Industry indicate that shipments rose to key destinations including Singapore, China, the United Kingdom, Tanzania, Bangladesh, Germany and South Africa. Growth was spread across sectors, with both petroleum products and several non-petroleum categories recording solid gains.
Total merchandise exports climbed to $45.2 billion from $38.3 billion a year earlier. Services exports advanced 13.2 percent to $36.8 billion. Within goods, electronics exports rose 11.6 percent to $5.1 billion, while organic and inorganic chemicals grew 12.7 percent to $2.7 billion. Engineering goods jumped 24.5 percent to $12.3 billion, and gems and jewellery increased 6.7 percent to $2.5 billion.
Non-petroleum exports expanded 10.5 percent to $70.7 billion in the first two months of the financial year.
Merchandise imports surged 22.1 percent to $73.4 billion, pushing the goods trade deficit to $28.2 billion, up 25 percent from May 2025. Services imports rose 14.1 percent to $19.1 billion, widening the overall deficit from $6.8 billion a year earlier.
