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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November 15, 2022
Merchandise exports shrank 16.6% annually in October, contrasting September’s 4.8% increase.
November 14, 2022
Inflation came in at 6.8% in October, down from September’s 7.4%.
November 11, 2022
Industrial output increased 3.1% compared to the same month a year earlier in September, which contrasted August's 0.7% decrease.
November 3, 2022
The S&P Global Composite Purchasing Managers' Index (PMI) came in at 55.5 in October, up from September's 55.1.
October 14, 2022
Merchandise exports increased 4.8% on an annual basis in September, following August’s 1.6% increase.