India Trade Balance July 2021

India: Merchandise exports accelerate slightly in July

Merchandise exports soared 48.8% on an annual basis in July (June: +48.2% year-on-year). Meanwhile, merchandise imports increased 63.0% in annual terms in July (June: +98.3% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 11.2 billion deficit in July (June 2021: USD 9.4 billion deficit; July 2020: USD 4.8 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 126.6 billion deficit in July, compared to the USD 120.2 billion deficit in June.

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