India`s exports surge 16.09% in April-May FY27 with ASEAN, Africa leading growth
The commerce ministry in its latest data has showed that ASEAN and African regions emerged as the biggest drivers of India's export growth during the first two months of FY2026-27. During the period, India's merchandise exports rose 16.09 per cent year-on-year to $88.91 billion. Exports to the Association of Southeast Asian Nations (ASEAN) surged 66.9 per cent to $10.5 billion from $6.3 billion in the corresponding period last year, while shipments to Africa climbed 53.1 per cent to $9.6 billion from $6.3 billion. Together, these two regions contributed more than $7.6 billion in additional exports, accounting for a substantial share of India's overall export growth.
Despite modest growth, the North American Free Trade Agreement (NAFTA) region-- comprising the US, Canada and Mexico-- remained India's largest export destination, with exports increasing 2.6 per cent to $19.3 billion from $18.8 billion. Exports to Europe rose 4 per cent to $17 billion from $16.4 billion. Among other regions, exports to North East Asia grew 30.7 per cent to $8.3 billion, while shipments to South Asia increased 40.2 per cent to $6.1 billion during the period. Similarly, exports to Latin America and the Caribbean (LAC) rose 12.5 per cent to $3 billion, while shipments to Oceania (Australia and New Zealand) increased 29 per cent to $2.1 billion. Exports to the Commonwealth of Independent States (CIS), which includes Russia, Armenia, Belarus and Kazakhstan, grew 7.7 per cent to $1.1 billion.
The data indicated that regions outside north America and Europe now account for more than half of India's exports, reflecting the country's strategy of diversifying export markets amid global economic uncertainty. India's total exports of goods and services during April-May FY27 were estimated at $162.69 billion, registering a 14.66 per cent increase over the corresponding period last year.
