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
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
|
Source: RBI
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