Latest reading: Merchandise exports jumped 26.1% in annual terms in June, following May’s 15.5% upturn. June’s figure marked the fastest...
Merchandise Trade Balance in India
The merchandise trade balance in India averaged USD -178 billion in the decade to 2024. The 2024 reading was USD -283 billion. For more information on trade, visit our dedicated page.
India Trade Chart
Note: This chart displays Trade Balance (USD billion) for India from 2019 to 2024.
Source: Macrobond.
India Trade Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -103 | -191 | -265 | -241 | -283 |
Merchandise exports fall at a slower pace in June
Latest reading: Merchandise exports were broadly stable in June, falling just 0.1% year-on-year, following May’s 2.2% fall. Meanwhile, merchandise imports fell 3.7% in annual terms in June (May: -1.7% yoy). As a result, the merchandise trade balance improved from the previous month, recording a USD 18.8 billion shortfall in June (May 2025: USD 21.9 billion deficit; June 2024: USD 20.8 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 287.8 billion deficit in June, compared to the USD 289.9 billion deficit in May.
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 trade projections for the next ten years from a panel of 9 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 trade forecast available for Indian trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian trade projections.
Want to get access to the full dataset of Indian trade forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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Mexico: Merchandise exports increase in June Latest reading: Merchandise exports shot up 10.6% over the same month last year in June (May: -0.5% year-on-year). June’s figure... -
India: Merchandise exports fall at a slower pace in June Latest reading: Merchandise exports were broadly stable in June, falling just 0.1% year-on-year, following May’s 2.2% fall. Meanwhile, merchandise imports... -
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