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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | -117.3 | -108.9 | -158.6 | -182.3 | -153.5 |
India Trade Balance Chart
Source: Reserve Bank of India.
India Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.50 | -0.04 % | Jan 01 |
| Exchange Rate | 71.23 | -0.09 % | Jan 01 |
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Economic News
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India: Industrial output posts the worst print since February in September
November 12, 2021
Industrial output increased 3.1% compared to the same month of the previous year in September, which was weaker than August's 12.0% expansion.
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Consumer prices increased 1.41% from the previous month in October, accelerating from September's 0.18% increase.
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Merchandise exports shot up 42.5% annually in October (September: +22.6% year-on-year).
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The composite Purchasing Managers’ Index (PMI) produced by IHS Markit rose from 55.3 in September to 58.7 in October.
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India: Inflation drops to lowest level since April in July
October 14, 2021
Consumer prices increased 0.18% from the previous month in September, decelerating from August's 0.25% increase.
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