India’s Services exports set a new record of USD 254.4 Billion in FY 2021-2022, beats previous high of USD 213.2 Billion in 2019-20

Ministry of Commerce & Industry

India’s Services exports set a new record of USD 254.4 Billion in FY 2021-2022, beats previous high of USD 213.2 Billion in 2019-20

Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022

Telecommunications, computer, and information services, other business services and Transport top contributors in Services exports

India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in FY 2021-2022 as both Services and Merchandise hit record high exports

India’s Services exports set a new record of USD 254.4 Billion in the financial year 2021-2022. The new record achieved in 2021-22 beats the previous high of USD 213.2 Billion in 2019-20. Also, Services exports hit an all-time monthly high of USD 26.9 Billion in March 2022.

Telecommunications, computer, and information services, other business services and Transport are the top contributors in Services exports during April-December 2021 (latest available). Component-wise Services trade is given in table below.

India’s overall exports (i.e. Services and Merchandise) touched USD 676.2 Billion in financial year 2021-2022 as both Services and Merchandise hit record high exports in financial year 2021-2022. India’s overall exports were USD 526.6 Billion and USD 497.9 Billion in 2019-20 and 2020-21 respectively.

India’s Merchandise exports had crossed USD 400 Billion milestone in Financial Year 2021-2022 and stood at USD 421.8 Billion which is a phenomenal increase of 44.6 percent and 34.6 percent over 2020-21 and 2019-20 respectively.

 

Component-wise services trade during April-December 2021

 

Values in USD Million (Data is Provisional)

Component Apr-Dec 2021 P
Credit Debit Net
Manufacturing services on physical inputs owned by others 287 42 245
Goods for processing in reporting economy 287 42 245
Goods for processing abroad      
Maintenance and repair services n.i.e. 199 939 -741
Transport 23264 24834 -1571
Sea transport 15828 18008 -2180
Passenger 121 687 -566
Freight 10756 15124 -4368
Other 4951 2197 2754
Air transport 5761 6002 -240
Passenger 280 2220 -1940
Freight 4251 3526 726
Other 1230 256 974
Other modes of transport 1624 469 1155
Passenger 3 1 2
Freight 1621 467 1153
Other 0 0 0
Postal and courier services 51 356 -305
Sea transport 3 3 0
Air transport 32 315 -282
Other modes of transport 15 38 -23
Passenger 404 2908 -2505
Freight 16628 19117 -2489
Others 6181 2453 3728
Travel 6488 11139 -4651
Business 417 3668 -3250
Personal 6071 7471 -1400
Health-related 92 17 75
Education-related 87 2532 -2445
Other 5892 4922 970
Construction 2049 2200 -150
Construction abroad 820 1812 -992
Construction in the reporting economy 1229 387 841
Insurance and pension services 2412 1648 764
Direct insurance 1624 27 1598
Reinsurance 725 1601 -876
Auxiliary insurance services 40 13 27
Pension and standardized guarantee services 23 7 17
Financial services 3858 4116 -258
Explicitly charged and other financial services 3570 2230 1340
Financial intermediation services indirectly measured 288 1886 -1598
Charges for the use of intellectual property n.i.e. 632 6525 -5893
Telecommunications, computer, and information services  91950 10480 81470
Telecommunications services 2374 861 1513
Computer services 89307 9034 80274
Information services 269 586 -316
Other business services 42131 37814 4318
Research and development services 4296 463 3834
Professional and management consulting services 25958 8431 17527
Technical, trade-related, and other business services 11877 28920 -17043
Personal, cultural, and recreational services 2194 3252 -1058
Audiovisual and related services 800 705 95
Other personal, cultural, and recreational services 1395 2547 -1153
Government goods and services n.i.e. 643 697 -55
Others n.i.e. 8546 1765 6782
Services 184653 105450 79203

 

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