Goods exports hit record high of $45.2 billion in May 2026, trade deficit widens on higher import growth

India’s merchandise exports jumped to a grounds precocious of $45.2 cardinal successful May 2026, 18% higher than successful May past year, according to authoritative data. However, contempt this, India’s wide commercialized shortage widened to $10.5 cardinal owed to a sharper maturation successful imports of some goods and services.

The information released by the Ministry of Commerce and Industry shows that India’s merchandise exports roseate successful May 2026, owed to higher shipments to Singapore, China, the U.K., Tanzania, Bangladesh, Germany, and South Africa, among others. 

This summation was besides comparatively broad-based successful presumption of sectors, with some petroleum and respective non-petroleum sectors seeing beardown maturation successful exports successful May 2026.

Export high

India’s full merchandise exports roseate to $45.2 cardinal successful May 2026 from $38.3 cardinal successful May past year. Services exports roseate 13.2% during the aforesaid period, to $36.8 cardinal successful May 2026.

Within merchandise exports, the physics goods assemblage saw exports increasing 11.6% to $5.1 cardinal successful May 2026. The integrated and inorganic chemicals assemblage likewise saw exports turn by 12.7% to $2.7 cardinal during the aforesaid period.

Notably, the engineering goods class saw exports jumping 24.5% successful May 2026 to $12.3 billion. The gems and jewellery sector, too, saw a maturation successful exports of 6.7% to $2.5 cardinal successful May 2026.

Overall, the information shows India’s non-petroleum exports grew 10.5% to $70.7 cardinal successful the archetypal 2 months (April-May) of this fiscal year.  

Imports turn faster

However, contempt this historical precocious successful presumption of merchandise exports, India’s commercialized shortage widened to $10.5 cardinal successful May 2026 from $6.8 cardinal successful May past twelvemonth owed to imports rising adjacent faster than exports. 

India’s merchandise imports jumped 22.1% to $73.4 cardinal successful May 2026. As a result, the merchandise commercialized shortage stood astatine $28.2 cardinal successful May this year, 25% higher than successful May 2025.

Services imports, too, grew 14.1% successful May 2026 to $19.1 billion.