India's merchandise exports demonstrated robust growth of 15% during May 2026, continuing the strong momentum witnessed in April, according to latest estimates from a senior government official as reported by The Times of India. This positive performance comes as part of a broader global trade surge, with China's exports jumping 19.4% in May driven by strong overseas demand for semiconductors, electric vehicles and other technology-related products. The strong performance was driven by strong petroleum shipments and higher outbound trade, as noted by officials speaking to The Times of India.
India's export momentum gained significant momentum in May 2026, with exports estimated to have grown 15% according to latest data from The Times of India. Excluding petroleum products, merchandise exports are estimated to have risen at 11% last month, indicating that the growth was broad-based across sectors. This May performance builds on the 13.78% growth to $43.56 billion achieved in April 2026, marking the highest monthly outbound shipments in more than four years, as reported by PTI. The Commerce Ministry will release the trade data for May on June 15.
The 15% growth in May exports was significantly boosted by the crude refining industry gaining from high global oil prices, as reported by The Times of India. This sector's strong performance contributed substantially to the overall export growth, demonstrating how India's manufacturing and processing capabilities are benefiting from favorable global commodity prices. The surge in crude oil prices has contributed to the strong petroleum shipments that drove export growth, but also increased import costs, as noted in previous reports.
India's strong export performance comes amid broader global trade dynamics, with China's exports surging 19.4% in May according to latest customs data, outpacing the 14.1% gain in April and economist forecasts of 15%. As per The Times of India, this growth was driven by front-loading by overseas buyers to pre-empt Gulf war energy costs and steady appetite for semiconductors and AI hardware. Chinese exports to the US surged more than 35% in May from a year earlier, marking the strongest growth since early 2021, with technology products remaining at the centre of China's export growth. Exports of semiconductors more than doubled by value in May compared with a year earlier, while automobile exports rose nearly 40%, with China's largest electric vehicle maker BYD reporting overseas sales of more than 160,600 vehicles, an increase of 80% from the previous year.
