Consistent Export Growth: 30.45% CAGR Over 7 Years
India's exports under HSN Chapter 88 have grown at a compound annual rate of 30.45% over 7 fiscal years, rising from ₹11,942.92 Crore in FY 2018-19 to ₹58,843.53 Crore in FY 2024-25.
88 HSN Code: Aircraft, Spacecraft, Its Parts
HSN Chapter 88 represents Aircraft, Spacecraft, Its Parts under GST classification. This code helps businesses identify Aircraft, Spacecraft, Its Parts correctly for billing, taxation, and trade purposes. With HSN Chapter 88, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Aircraft, Spacecraft, Its Parts.
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Sub-chapters under HSN Chapter 88
Following Sub Chapters fall under Aircraft, Spacecraft, Its Parts:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Balloons and dirigibles, gliders, hand gliders and other non-powered aircraft
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
12
%
Description
Other aircraft, except unmanned aircraft of heading 8806 (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Parachutes (including dirigible parachutes and paragliders) and rotochutes; parts thereof and accessories thereto
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Aircraft launching gear; deck-arrestor or similar gear; ground flying trainers; parts of the foregoing articles
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Parts of goods of heading 8801, 8802 or 8806
India’s Trade Performance — HSN Chapter 88 in FY 2024-25
TradeStat EIDB — Ministry of Commerce & Industry
FY 2018-19–FY 2024-25
Values in ₹ Crore
India’s Exports
FY 2024-25₹58,844 Cr
+118.68%
vs FY 2023-24
1.5889% of India’s total exports
India’s Imports
FY 2024-25₹1,17,659 Cr
+11.86%
vs FY 2023-24
1.9294% of India’s total imports
Trade Balance
FY 2024-25−₹58,816 Cr
Trade Deficit
Surplus rank #86 of 97 chapters
At a glance
30.45%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#15
National Export Rank
of 97 chapters by export value, FY 2024-25
+134.02%
Peak Growth Year
FY 2023-24 · strongest single-year move
4.9×
Export Growth · 7Y
₹11,942.92 Cr → ₹58,843.53 Cr
India Export-Import Trade Statistics for HSN Chapter 88
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
FY 2018-19
Exp. Rank #37
Balance
−41,588.08
Exports
11,942.92 ₹ Cr
0.5178% share
— YoY
Imports
53,531.00 ₹ Cr
1.4893% share
— YoY
FY 2019-20
Exp. Rank #41
Balance
−60,478.79
Exports
10,096.34 ₹ Cr
0.4551% share
−15.46% YoY
Imports
70,575.13 ₹ Cr
2.1000% share
+31.84% YoY
FY 2020-21
Exp. Rank #45
Balance
−34,048.04
Exports
8,618.77 ₹ Cr
0.3993% share
−14.63% YoY
Imports
42,666.81 ₹ Cr
1.4633% share
−39.54% YoY
FY 2021-22
Exp. Rank #46
Balance
−28,713.67
Exports
8,521.74 ₹ Cr
0.2708% share
−1.13% YoY
Imports
37,235.41 ₹ Cr
0.8143% share
−12.73% YoY
FY 2022-23
Exp. Rank #45
Balance
−79,081.79
Exports
11,498.29 ₹ Cr
0.3176% share
+34.93% YoY
Imports
90,580.08 ₹ Cr
1.5754% share
+143.26% YoY
FY 2023-24
Exp. Rank #27
Balance
−78,276.39
Exports
26,907.95 ₹ Cr
0.7437% share
+134.02% YoY
Imports
1,05,184.34 ₹ Cr
1.8730% share
+16.12% YoY
FY 2024-25
Exp. Rank #15
Balance
−58,815.70
Exports
58,843.53 ₹ Cr
1.5889% share
+118.68% YoY
Imports
1,17,659.23 ₹ Cr
1.9294% share
+11.86% YoY
CAGR · 7-Year
Exports
30.45% /yr
Imports
14.03% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 88 Export-Import Analysis
HSN Chapter 88 Ranked #15 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 88 ranks #15 out of 97 chapters by total export value. By trade surplus, it ranks #86 of 97.
FY 2023-24 Was the Strongest Growth Year for HSN Chapter 88 Exports
The strongest single-year export movement for HSN Chapter 88 was recorded in FY 2023-24, when exports surged by 134.02% over the prior year.
India Records a Trade Deficit of ₹58,815.70 Crore in HSN Chapter 88 Goods
In FY 2024-25, India's imports of ₹1,17,659.23 Cr exceeded exports of ₹58,843.53 Cr, resulting in a trade deficit of ₹58,815.70 Crore — ranking #86 of 97 by surplus magnitude.
Import Growth of 14.03% CAGR Signals Rising Demand for Aircraft, Spacecraft, Its Parts
India's imports under HSN Chapter 88 have grown at 14.03% CAGR, reaching ₹1,17,659.23 Crore in FY 2024-25.
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Important Disclaimer
The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.