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  • DAILY CURRENT AFFAIRS:Service sectors export achieves $250 billion target in 2021-22

Service sectors export achieves $250 billion target in 2021-22

Tags: Economy/Finance

According to the provisional figure released by the Union Commerce and Industry Ministry on 13 April 2022,the service sector exports in 2021-22 has achieved the target of $250 billion. 

Export Data 

  • The annual growth rate in the service sector growth was 21.31% as compared to 2020-21 .

  • The  service sector export in 2019-20 was $ 206.09 Billion. 

  • The target for services exports in 2021-22 was initially $225 billion, which was later raised to $250 billion by the Commerce and Industry ministry.

  •  The last record of service sector export was $213 billion achieved in  2019-20.

Import Figure 

  •  India imported $144.79 billion worth of services in 2019-20.

  •  It was growth of  23.20 per cent as compared to 2019-20. 

  • The total import of the service sector was $ 117.52 Billion in 2019-20.

Surplus in Service trade 

  • India had a surplus of $ 105.21 billion in service sector trade  in  2021-22.

  • The growth in the  surplus as compared to 2019-20 was 23.89 %

  • In 2019-20 the surplus was $ 84.92 billion.

Union Commerce and Industry Minister : Piyush Goel 


  • The Government of India has said that these data are provisional and it may change. 
  • The Government of India has not set any target for the export of Goods and service sector for 2022-23 till date.

For detail about Merchandise Trade data of 2021-22 kindly see 4 April 2022 postCLICK HERE

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