According to Commerce Department data, the United Kingdom (UK) surpassed China as India’s fourth-largest export market in May. The United Kingdom was India’s sixth-largest export destination in May last year. While exports to the United Kingdom increased by one-third to $1.37 billion in May, shipments to China increased by three percent to $1.33 billion last month.
The disaggregated data for May was not immediately available, but patterns over the previous few months showed that machinery, food, pharmaceutical products, textiles, jewellery, iron, and steel were among the most popular items sent to the UK.
According to Commerce Department data, India’s top ten important export destinations had positive growth in May, reversing a trend in which shipments to several of these countries had been contracting for more than 12 months. These ten countries accounted for 52 percent of the country’s total value of products exported in May. India’s merchandise exports increased 9.13 percent in May to $38 billion.
Imports from Russia increased by 18% to $7.1 billion, primarily due to India’s reliance on crude oil. The country remained India’s second-largest import destination, after China. China saw a 2.81 percent increase, totalling $8.48 billion. Imports from Switzerland, which are mostly driven by gold imports, fell by nearly one-third to $1.52 billion.
According to Commerce Department data, the United Kingdom (UK) surpassed China as India’s fourth-largest export market in May. The United Kingdom was India’s sixth-largest export destination in May last year. While exports to the United Kingdom increased by one-third to $1.37 billion in May, shipments to China increased by three percent to $1.33 billion last month.
The disaggregated data for May was not immediately available, but patterns over the previous few months showed that machinery, food, pharmaceutical products, textiles, jewellery, iron, and steel were among the most popular items sent to the UK.
According to Commerce Department data, India’s top ten important export destinations had positive growth in May, reversing a trend in which shipments to several of these countries had been contracting for more than 12 months. These ten countries accounted for 52 percent of the country’s total value of products exported in May. India’s merchandise exports increased 9.13 percent in May to $38 billion.
Imports from Russia increased by 18% to $7.1 billion, primarily due to India’s reliance on crude oil. The country remained India’s second-largest import destination, after China. China saw a 2.81 percent increase, totalling $8.48 billion. Imports from Switzerland, which are mostly driven by gold imports, fell by nearly one-third to $1.52 billion.