Latest reading: In May, the trade balance was USD -0.6 billion, following a USD +1.1 billion reading in the previous...
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 2014 to 2025.
Source: Macrobond.
India Trade Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -191 | -265 | -237 | -283 | -333 |
Merchandise trade deficit stable in May
Latest reading: In May, the trade balance was USD -28.2 billion, following a USD -28.2 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD -340.0 billion. Merchandise exports increased 18.0% in annual terms in May, coming on the back of 14.2% growth in the prior month. Merchandise imports rose 20.6% in year-on-year terms in May, coming on the back of a 10.0% increase in the previous month.
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 8 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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