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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AM/MS/PK
