India’s apparel export increases by 22.08% in Apr-May 2022

Readymade garment (RMG) exports from India registered an impressive growth of 22.08 per cent year-on-year and registered $2935.73 million in the first two months of current fiscal 2022-23. The export was $2404.67 million in April-May 2021. The export of RMG of all textiles contributed 3.81 per cent in the country’s total merchandise export in April-May 2022.

India’s RMG exports were worth $1360.95 million in May 2022 against, export of $1107 million in May 2021, showing a growth of 22.94 per cent. 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.