India’s merchandise exports grew by 23.69 per cent to USD 34.06 billion in January on account of healthy performance in engineering, petroleum and gems and jewellery during the month of January, according to provisional data of the Ministry of Commerce released on Wednesday, February 2, 2022.

Cumulatively, exports grew by 46.53 per cent to USD 335.44 billion during April-January 2021-22 as against USD 228.9 billion in the same period last year and USD 264.13 billion in 2019-20. 

This is the highest ever annual export achieved by India and it has also been crossed in 10 months this year, touching around USD 336 billion.

Engineering exports rose by 24.13%

Engineering exports rose by 24.13 per cent to USD 9.2 billion, petroleum by 74.73 per cent to USD 3.73 billion and gems and jewellery by 13.83 per cent to USD 3.23 billion. Pharmaceuticals exports stood at USD 2.05 billion in January.

Non-petroleum exports rose to $30.33 billion in January

The value of non-petroleum exports in January 2022 was USD 30.33 billion, registering a positive growth of 19.4% over non-petroleum exports of USD 25.4 billion in January 2021 and positive growth of 33.81% over non-petroleum exports of USD 22.67 billion in January 2020.

The cumulative value of non-petroleum exports in 2021-22 (Apr-Jan) was USD 287.84 billion, an increase of 37.59% over USD 209.19 billion in 2020-21 and an increase of 25.8% over USD 228.8 billion in 2019-20.

The value of non-petroleum and non-gems and jewellery exports in January 2022 was USD 27.09 billion, registering a positive growth of 20.1% over non-petroleum and non-gems and jewellery exports of USD 22.56 billion in January 2021 and positive growth of 36.92% over non-petroleum and non-gems and jewellery exports of USD 19.79 billion in January 2020.

Top 5 major export commodity groups in January 2022

  1. Engineering goods – $9.201 billion
  2. Petroleum products – $3.732 billion
  3. Gems and Jewellery – $3.236 billion
  4. Organic and Inorganic chemicals – $2.447 billion
  5. Drugs and Pharmaceuticals – $2.054 billion