India’s Goods and Services Exports Climb 2.8% in May, Surpassing $71 Billion Despite Global Uncertainty

India's total exports—both merchandise and services—stood at an estimated $71.12 billion in May 2025, a 2.77% year-on-year increase, as per information published by the Commerce Ministry on Wednesday.

This increase comes despite rising geopolitical tensions and the additional burden brought about by a trade war fueled by heightened US tariffs.

Total merchandise imports for the same month, inclusive of goods and services, were valued at $77.75 billion, representing a decline of 1.02% from May 2024.

Among the major export drivers of merchandise export growth during the last month were chemical products, electronic items, pharmaceuticals, seafood, and readymade garments.

Electronics exports, including mobile phones, posted a significant increase of 54.1%, jumping from $2.97 billion in May 2024 to $4.57 billion this year. The chemical industry was next with a 16% increase, rising from $2.31 billion to $2.68 billion. The export of drugs and pharmaceuticals also rose, posting a 7.38% increase to $2.48 billion from $2.31 billion year-on-year.

Marine product shipments grew robustly by 26.79% to $730 million in May 2025. In contrast, ready-made garment exports improved by 11.35% to $1.51 billion in the corresponding period.

"Unlike the world at large, which has been uncertain about policy on trade, we have performed wonderfully well," Commerce Secretary Sunil Barthwal said in a media briefing.

Taking a look at the overall trade scenario, India's total exports for April-May stood at $142.43 billion—5.75% higher than during the corresponding period last year. Total imports during the two-month period were $159.57 billion, which saw an increase of 6.52%.

In the service industry, May exports totaled $32.39 billion from $29.61 billion in May 2024. Services exports for the period April-May totaled $65.24 billion, a huge increase from $59.79 billion last year.

This resulted in a services trade surplus of $31.19 billion during April-May compared to $26.15 billion in the corresponding period last year.

India's top five export markets, which recorded significant growth in May 2025, were the United States (rose 16.93%), China (25.04%), Australia (35.36%), Russia (48.11%), and Germany (17.05%), the Commerce Ministry said.