India Balance of Trade

Last Release

Mar 31, 2025

Actual

-21.54

Units In

USD Million

-14.05

Frequency

Monthly

Next Release

May 15, 2025

Time to Release

28 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
0.79 Jun 2020	-37.84 Nov 2024	-3.89 USD Million	1957-2025	N/A

India has been recording sustained trade deficits since 1980 mainly due to the strong imports growth, particularly of mineral fuels, oils and waxes and bituminous substances and pearls, precious and semi-precious stones and jewelry. In recent years, the biggest trade deficits were recorded with China, Switzerland, Saudi Arabia, Iraq and Indonesia. India records trade surpluses with the US, United Arab Emirates, Hong Kong, United Kingdom and Vietnam.

Latest Updates

India recorded a trade deficit of $21.54 billion in March of 2025, widening from the $15.6 billion gap in the corresponding period of the previous year. Imports surged by 11.4% annually to $63.51 billion, the highest ever for the month, despite the relatively low price of fuel that makes up a large portion of India's foreign purchases. In the meantime, exports rose by a much-softer 0.7% to $41.97 billion, even though Asian economies were rushing to expedite foreign sales before the US President Trump followed through with the threat of aggressive reciprocal tariffs.