India Merchandise Imports

India Merchandise Imports

Merchandise Imports in India

Merchandise imports in India were worth USD 709 billion in 2022, compared to USD 450 billion ten years earlier. The value averaged USD 483 billion over the last decade. For more imports information, visit our dedicated page.

India Merchandise Imports Chart

Note: This chart displays Imports (USD billion) for India from 2013 to 2022.
Source: Ministry of Commerce & Industry India.

India Merchandise Imports Data

2018 2019 2020 2021 2022
Merchandise Imports (USD bn) 514 475 392 613 709
Merchandise Imports (ann. var. %) 10.6 -7.7 -17.4 56.4 15.7

Merchandise exports rebound in October

Merchandise exports increased 6.2% on an annual basis in October, on the heels of September’s 2.7% drop. October’s result marked the strongest reading since November 2022. Meanwhile, merchandise imports jumped 10.2% over the same month last year in October (September: -16.7% yoy), marking the strongest reading since September 2022. As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 31.5 billion deficit in October (September 2023: USD 19.4 billion deficit; October 2022: USD 27.4 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 255.2 billion deficit in October, compared to the USD 251.1 billion deficit in September.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indian merchandise imports projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise imports forecast available for Indian merchandise imports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian merchandise imports projections.

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