India’s combined merchandise and services exports climbed to $142.43 billion in April-May 2025, up 5.75% from $134.69 billion during the same period in 2024, according to Commerce Ministry estimates. This growth was fueled by a strong performance in non-petroleum sectors, particularly electronic goods, organic and inorganic chemicals, pharmaceuticals, and marine products. Electronic goods exports posted a remarkable 54.1% surge in May 2025 compared to the previous year, growing from $2.97 billion to $4.57 billion, while exports of chemicals rose by 16% and pharmaceuticals by 7.38%.
Overall merchandise exports during April-May reached $77.19 billion, a 3.07% increase over 2024, while services exports surged by 9.11% to $65.24 billion. Notably, non-petroleum exports rose 7.53% to $64.25 billion. Imports for the same period totaled $159.57 billion, up 6.52% from last year, widening the trade deficit to $17.14 billion.
In May alone, total exports stood at $71.12 billion, rising 2.77% year-on-year, while imports dropped 1.02% to $77.75 billion. The services sector drove much of the growth, with estimated exports rising to $32.39 billion in May 2025, a 9.38% increase from $29.61 billion the previous year.
Among export destinations, the United States, China, Australia, Russia, and Germany recorded significant growth in May 2025, with Russia leading at 48.11%. On the import front, India saw increased shipments from China, the UAE, Nigeria, Hong Kong, and Japan, with Nigeria’s exports to India nearly doubling.
While petroleum, transport equipment, and fertilizers recorded declining imports, India’s trade expansion has remained resilient in the face of global uncertainty, driven by sectors such as ready-made garments, tobacco, meat and dairy products, and other niche exports. The government emphasized the need to build on this momentum to support job creation and sustained economic growth.
