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India’s Services exports set a new record of USD 254.4 Billion in FY 2021-2022

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Herons Logistics


NEW DELHI : 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)

ComponentApr-Dec 2021 P
CreditDebitNet
Manufacturing services on physical inputs owned by others28742245
Goods for processing in reporting economy28742245
Goods for processing abroad   
Maintenance and repair services n.i.e.199939-741
Transport2326424834-1571
Sea transport1582818008-2180
Passenger121687-566
Freight1075615124-4368
Other495121972754
Air transport57616002-240
Passenger2802220-1940
Freight42513526726
Other1230256974
Other modes of transport16244691155
Passenger312
Freight16214671153
Other000
Postal and courier services51356-305
Sea transport330
Air transport32315-282
Other modes of transport1538-23
Passenger4042908-2505
Freight1662819117-2489
Others618124533728
Travel648811139-4651
Business4173668-3250
Personal60717471-1400
Health-related921775
Education-related872532-2445
Other58924922970
Construction20492200-150
Construction abroad8201812-992
Construction in the reporting economy1229387841
Insurance and pension services24121648764
Direct insurance1624271598
Reinsurance7251601-876
Auxiliary insurance services401327
Pension and standardized guarantee services23717
Financial services38584116-258
Explicitly charged and other financial services357022301340
Financial intermediation services indirectly measured2881886-1598
Charges for the use of intellectual property n.i.e.6326525-5893
Telecommunications, computer, and information services 919501048081470
Telecommunications services23748611513
Computer services89307903480274
Information services269586-316
Other business services42131378144318
Research and development services42964633834
Professional and management consulting services25958843117527
Technical, trade-related, and other business services1187728920-17043
Personal, cultural, and recreational services21943252-1058
Audiovisual and related services80070595
Other personal, cultural, and recreational services13952547-1153
Government goods and services n.i.e.643697-55
Others n.i.e.854617656782
Services18465310545079203

Source: RBI

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