In May, India’s imports from Iraq increased by 58.68 percent to USD 3.76 billion, while imports from the UAE went up by about 50 percent, according to data from the commerce ministry. Similarly, imports from Russia rose by 18 percent to USD 7.1 billion due to increased oil imports. Imports from China were 2.82 percent higher at USD 8.48 billion.
Among India’s top 20 import source nations, imports from Saudi Arabia, Switzerland, Japan, Germany, Hong Kong, Australia, and Malaysia decreased in May. On the export side, India’s exports to South Africa, Italy, Nepal, Belgium, and Australia decreased during the month. However, exports to the US, the UAE, the Netherlands, the UK, Singapore, and Saudi Arabia increased.
Exports to China increased by 3.35 percent to USD 1.32 billion last month. Overall, India’s merchandise exports rose by 9 percent to USD 38.13 billion in May.
