Goods Exports Hit Record High of $45.2 Billion in May 2026, Trade Deficit Widens on Higher Import Growth
Strong demand and a weaker rupee lifted exports, but higher oil and gold imports pushed the merchandise trade deficit to $28.21 billion, officials said.
- On Monday, the Ministry of Commerce and Industry reported Indian goods exports rose to $45.2 billion in May 2026, marking an 18% jump compared to last year and hitting a six-month high.
- A steep decline in the domestic currency of over 10% during the past 12 months boosted competitiveness, while Commerce Secretary Rajesh Agarwal noted exports to West Asia almost reached previous levels despite regional disruptions.
- Engineering goods shipments jumped 24.5% to $12.3 billion, while oil imports surged 53.8% to $22.67 billion amid prices hovering around $100 per barrel, reflecting broad-based sectoral strength.
- Despite export gains, India's overall trade deficit widened to $10.5 billion as merchandise imports jumped 22.1% to $73.4 billion, offsetting export strength with surging import demand.
- Plain gold jewellery exports declined sharply by 40.11% to $635.95 million, a primary sector concern; the Federation of Indian Export Organisations remains hopeful for government resolution despite ongoing West Asia challenges.
14 Articles
14 Articles
India’s exports hit record high in May 2026 despite global uncertainties; Trade deficit narrows
India’s export sector demonstrated remarkable resilience in May 2026, achieving the highest monthly merchandise export level in the country’s history despite continuing uncertainties in the global economy. The strong performance highlights the growing competitiveness of Indian manufacturing and industry and reinforces India’s position as an increasingly important player in global trade. According to government data released on Monday, India’s me…
Exports rise to 6-month high of 18 pc in May; trade deficit widens to USD 28.21 bn
New Delhi, Jun 15 (PTI) India’s exports climbed to a six-month high of 18 per cent to USD 45.2 billion in May, while trade deficit widened to USD 28.21 billion, driven by increased imports of petroleum products amid higher crude oil prices. However, the trade deficit narrowed marginally on a month-on-month basis compared to USD […]
India's May trade gap narrows as exports rise; U.S. trade talks in focus
India's merchandise trade deficit narrowed marginally in May as higher exports offset part of the import bill, while firms navigated volatile energy prices, Middle East disruptions and ongoing trade negotiations with the United States.
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