India’s Exports Rise 16% to $81.96 Billion in May 2026, Driven by Merchandise and Services Growth

Merchandise exports, services trade and key sectors contribute to higher outbound shipments in May

According to Commerce Ministry data released on Monday, India’s total exports (merchandise and services combined) stood at $81.96 billion in May 2026, marking a 15.83 per cent increase over the same month last year.

Merchandise exports during May rose to $45.20 billion from $38.30 billion in May 2025. The estimated value of services exports for May was $36.76 billion, compared to $32.46 billion in May 2025.

For the April-May period, cumulative merchandise exports were valued at $88.91 billion, up from $76.59 billion during April-May 2025-26, registering a growth of 16.09 per cent.

Estimated services exports during April-May were $73.79 billion, compared to $65.30 billion in the corresponding period of 2025-26.

Imports Also Register Growth

Total imports, comprising merchandise and services, were estimated at $92.47 billion in May 2026, reflecting a growth of 19.23 per cent compared to May 2025.

The cumulative value of non-petroleum exports during April-May reached $70.74 billion, recording an increase of 10.49 per cent from $64.03 billion in April-May 2025-26.

Key Export Segments Support Growth

Major contributors to merchandise export growth in May included petroleum products, engineering goods, organic and inorganic chemicals, electronic goods, and gems and jewellery.

Petroleum products exports increased by 54.89 per cent, rising from $5.44 billion in May 2025 to $8.42 billion in May 2026.

Engineering goods exports grew by 24.48 per cent from $9.89 billion in May 2025 to $12.31 billion in May 2026.

Electronic goods exports increased by 11.62 per cent, moving from $4.57 billion in May 2025 to $5.10 billion in May this year.

Meanwhile, gems and jewellery exports rose by 6.66 per cent, from $2.38 billion in May 2025 to $2.53 billion in May 2026.

Trade Deficit and Services Surplus

The merchandise trade deficit during April-May 2026-27 stood at $56.44 billion, compared to $49.65 billion during April-May 2025-26.

At the same time, the services trade surplus for April-May 2026-27 was $36.31 billion, up from $31.69 billion in April-May 2025-26, according to the data.