India

India Trade August 2025

India: Merchandise trade deficit narrows in August

Latest reading: In August, the trade balance was USD -26.5 billion, following a USD -27.4 billion figure in the previous month but a slightly larger deficit than expected by the market. This marks the first trade data since the U.S. raised tariffs on India to 25%. Over the last 12 months, the trade balance summed to USD -282.9 billion.

Exports were up 6.7% in year-on-year terms in August, following a 8.6% rise in the previous month. Imports dropped 10.1% in year-on-year terms in August, following a 8.6% rise in the prior month.

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