India’s exports continued to register strong growth in the first two months of the current financial year, with total exports of goods and services rising 14.66 per cent year-on-year to an estimated US$162.69 billion during April-May 2026-27, according to data released by the Ministry of Commerce and Industry on Monday.
The country’s total exports stood at US$141.89 billion during the corresponding period of the previous financial year.
Merchandise exports recorded a growth of 16.09 per cent during April-May 2026-27, reaching US$88.91 billion compared to US$76.59 billion in the same period last year. Non-petroleum exports also registered healthy growth of 10.49 per cent, rising to US$70.74 billion from US$64.03 billion a year earlier.
In May 2026 alone, India’s total exports, including merchandise and services, were estimated at US$81.96 billion, reflecting a growth of 15.83 per cent over May 2025. Total imports during the month were estimated at US$92.47 billion, resulting in a trade deficit of US$10.51 billion.
Merchandise exports rose to US$45.20 billion in May 2026 from US$38.30 billion in the corresponding month last year, while merchandise imports increased to US$73.41 billion from US$60.86 billion.
Among major export sectors, petroleum products emerged as the strongest growth driver, with exports increasing 54.89 per cent to US$8.42 billion in May. Engineering goods exports grew 24.48 per cent to US$12.31 billion, while exports of organic and inorganic chemicals rose 12.71 per cent to US$2.72 billion.
Electronic goods exports increased 11.62 per cent to US$5.10 billion, while gems and jewellery exports registered a growth of 6.66 per cent to US$2.53 billion during the month.
Services exports also maintained a positive trajectory. Estimated services exports during April-May 2026-27 stood at US$73.79 billion, compared to US$65.30 billion in the corresponding period last year, registering a growth of nearly 13 per cent. The services trade surplus increased to US$36.31 billion during the period.
The data showed strong growth in exports to several key markets. Singapore, South Africa, Tanzania, Italy and Sri Lanka emerged as the top destinations recording the highest increase in export value during May 2026. On the import side, Russia, China, the United States, Oman and Brazil were among the leading sources showing significant growth.
The Commerce Ministry data indicates that sectors such as petroleum products, engineering goods, chemicals, electronics and gems and jewellery continue to support India’s export growth momentum in the current financial year.
