India Balance of Trade

Last Release

Sep 30, 2024

Actual

-20.8

Units In

USD Million

-29.7

Frequency

Monthly

Next Release

Nov 15, 2024

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
0.79 Jun 2020	-31.46 Oct 2023	-3.74 USD Million	1957-2024	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

The merchandise trade deficit in India was at $20.8 billion in September of 2024, the lowest since April, firmly below market expectations that it would stand at $24.6 billion. Imports grew by 1.6% from the corresponding period of the previous year to $55.4 billion, also the least since April, as key energy commodities that are a large part of Indian foreign purchases had lower prices in wholesale markets. In the meantime, outbound shipments expanded by 0.5% from the previous year to $34.6 billion.