Trade Balance in India

India Trade Balance | Economic News & Forecasts

India - Trade Balance

Exports and imports plummet in March

Merchandise exports decreased 34.6% in March from the same month a year earlier, contrasting the 2.9% increase in February and amounting to a total value of USD 21.4 billion. The decrease in shipments in March was broad based across the economy, with 29 out of the 30 major categories of shipments registering falls in the month, and due to the coronavirus pandemic hitting external demand. Merchandise imports, meanwhile, slumped 28.7% in March, contrasting the 2.5% increase in February and amounting to USD 31.2 billion; imports of oil, which constitute around one-third of total merchandise imports, fell 15.0%.

The merchandise trade deficit narrowed to USD 9.8 billion from the USD 11.0 billion shortfall in the same month a year earlier. The 12-month trailing sum of the trade deficit narrowed to USD 152.9 billion in March from USD 154.1 billion in February.

Our panelists forecast that exports and imports will expand 4.1% and 4.7% in FY 2020, respectively, bringing the merchandise trade deficit to USD 175.0 billion. In FY 2021, our panel projects exports and imports to expand 6.9% and 6.9%, respectively, resulting in a merchandise trade deficit of USD 177.0 billion.

India - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)-117.3  -108.9  -158.6  -182.3  -153.5  

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India Trade Balance Chart

India Trade
Note: Trade balance in USD billion.
Source: Reserve Bank of India.

India Facts

Value Change Date
Bond Yield6.50-0.04 %Jan 01
Exchange Rate71.23-0.09 %Jan 01

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