India’s merchandise exports grew 38.91 per cent year-on-year to $37.81 billion in December 2021, the highest monthly figure ever, due to the healthy performance from sectors such as engineering, textiles and chemicals, according to the data released by Ministry of Commerce and Industry on Friday, January 14.
During April-December 2021-22, exports grew by 49.66 per cent to $301.38 billion.
“Merchandise exports in December 2021 were USD 37.81 billion, as compared to USD 27.22 billion in December 2020, exhibiting a positive growth of 38.91 per cent. As compared to December 2019, exports in December 2021 exhibited a positive growth of 39.47 per cent,” the commerce ministry said in a statement.
Top export products
Engineering goods, petroleum products, drugs and pharmaceuticals, gems and jewellery, organic and inorganic chemicals were the top exported goods.
In December 2021, exports of engineering goods rose by 38.41 per cent to $9.8 billion, followed by petroleum products (up 151 per cent to $5.88 billion), gems and jewellery (up 16.4 per cent to about $3 billion), chemicals (up 26.86 per cent to $2.66 billion) and ready-made garments of all textiles (up 22.63 per cent to USD 1.46 billion).
Services export stood at $20.07 billion in December 2021
The data also stated that the estimated value of services export for December 2021 was $20.07 billion, an increase of 5.26 per cent over the same month of 2020.
Non-petroleum and non-gems and jewellery exports, also known as core exports, grew nearly 30 per cent annually to $28.92 billion.
Services export stood $177.68 billion in April-December 2021
The estimated value of services export for April-December 2021 is $177.68 billion, showing a positive growth of 18.39 per cent over April-December 2020 ($150.09 billion).