India Trade Balance January 2022

India: Merchandise exports growth eases in January

Merchandise exports increased 25.3% year-on-year in January (December: +39.3% year-on-year). Meanwhile, merchandise imports rose 23.6% over the same month last year in January (December: +39.7% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 17.4 billion deficit in January (December 2021: USD 21.7 billion deficit; January 2021: USD 14.5 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 186.4 billion deficit in January, compared to the USD 183.5 billion deficit in December.

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