Trade Balance in India
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
|Trade Balance (USD billion)||-117.3||-108.9||-158.6||-182.3||-153.5|
5 years of economic forecasts for more than 30 economic indicators.
India Trade Balance Chart
Source: Reserve Bank of India.
|Bond Yield||6.50||-0.04 %||Jan 01|
|Exchange Rate||71.23||-0.09 %||Jan 01|
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July 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit climbed to 37.8 in June from 14.8 in May.
June 15, 2020
Merchandise exports fell 36.5% in year-on-year terms in May, after falling an historic 60.3% in April (the sharpest fall since at least the early 1990s), amounting to USD 19.1 billion.
June 15, 2020
The National Statistical Office of India released only partial consumer price index (CPI) data for May, as it did previously for April, because of logistical issues related to the coronavirus pandemic.
June 12, 2020
Industrial output fell 55.5% in year-on-year terms in April, which was a larger contraction than March's 18.3% decrease.
June 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit inched up to 14.8 in May from 7.2 in April; the reading in April thus continues to mark the lowest point since current records began in December 2005.