India Balance of Trade

Last Release

Dec 31, 2024

Actual

-21.94

Units In

USD Million

-37.84

Frequency

Monthly

Next Release

Feb 14, 2025

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
0.79 Jun 2020	-37.84 Nov 2024	-3.84 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 $21.94 billion in December of 2024, widening from the $19.8 billion in the corresponding period of the previous year, but below market expectations of a sharper $27.3 billion deficit. Imports grew by $1.7 billion to $59.95 billion in the period, aligned with the elevated level of rupee selling reported by exchanges as the currency extends record lows. In turn, exports eased by $0.4 billion to $38 billion.