India’s RMG Exports: 22.08% growth during April-May’22-23

03 June 2022, Mumbai:

India’s RMG exports grew by 22.08 per cent Y-o-Y to $2,935.73 million during April-May ‘22-23 from $2,404.67 million in April-May 2021. RMG exports 3.81 per cent to the country’s total merchandise export during the two months.

India’s RMG exports grew by 22,94 per cent to 1,360.95 million in May 2022 against, export of $1107 million in May 2021 RMG contributed 3.65 per cent in total merchandise export of May 2022, the ministry of commerce and industry said in a release.

India’s total merchandise export in May 2022 amounted to $37.29 billion, an increase of 15.46 per cent over $32.30 billion in May 2021. The export in April-May 2022-23 was $77.08 billion with an increase of 22.26 per cent over $63.05 billion in April-May 2021-22.

India’s merchandise import in May 2022 was $60.62 billion, an increase of 56.14 per cent over $38.83 billion in May 2021. The imports in April-May 2022-23 were $120.81 billion with an increase of 42.35 per cent over $84.87 billion in April-May 2021-22. The trade deficit in May 2022 was $23.33 billion, while it was $43.73 billion during April-May 2022-23.