India recorded a trade deficit of 21.88 USD Billion in May of 2025. This dataset provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

India trade balance for 2023 was -73.51 billion US dollars, a 38.5% decline from 2022.

<ul style='margin-top:20px;'>

<li>India trade balance for 2022 was <strong>-119.53 billion US dollars</strong>, a <strong>43.78% increase</strong> from 2021.</li>
<li>India trade balance for 2021 was <strong>-83.13 billion US dollars</strong>, a <strong>690.53% increase</strong> from 2020.</li>
<li>India trade balance for 2020 was <strong>-10.52 billion US dollars</strong>, a <strong>85.61% decline</strong> from 2019.</li>
</ul>External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

In 2023, India's trade deficit of goods amounted to around *** billion U.S. dollars. Balance of trade The trade balance, also called commercial balance or balance of trade, is the difference between the value of a country’s exports and its imports over a certain timespan. If a country exports more goods or services than in imports, the trade balance is positive – a so-called trade surplus. If a country imports more than it exports, the trade balance is in the red – a trade deficit. Among other factors, trade is affected by production, currency exchange rates, and taxes, and of course by the availability of raw materials and prices of goods. India’s trade is in the red The reason for India’s persistent trade deficit is simple: The country imports far more than it exports. India is a very fast-growing economy with the majority of its GDP generated by services, while most of its workforce is employed in agriculture. India’s main imports include chemicals, crude oil, and machinery, while India exports textiles, software, petroleum products, and leather goods. One reason for the increasing trade deficit is the price of crude oil and its rapid economic growth, which means that export trade now needs to catch up to the demand.

Key information about India's Trade Balance

• India's Trade Balance recorded a deficit of 23.0 USD bn in Jan 2025, compared with a deficit of 21.9 USD bn in the previous month
• India's Trade Balance data is updated monthly, available from Jan 1957 to Jan 2025, with an averaged value of -420.4 USD mn
• The data reached an all-time high of 709.6 USD mn in Jun 2020 and a record low of -31.8 USD bn in Nov 2024

• In the latest reports, India's Total Exports reached 36.4 USD bn in Jan 2025, an increase of 14.5% YoY (year-on-year)
• Total Imports recorded 59.4 USD bn in Jan 2025, an increase of 14.5% YoY (year-on-year)

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for India (XTNTVA01INM667S) from Jan 1990 to Apr 2025 about India, trade, Net, and goods.

In fiscal year 2024, the trade balance to gross domestic product ratio in India declined to 7.4 percent. This was almost the same as compared to the previous fiscal year.

United States Trade Balance: India: sa data was reported at -1.908 USD bn in May 2018. This records an increase from the previous number of -2.040 USD bn for Apr 2018. United States Trade Balance: India: sa data is updated monthly, averaging -1.743 USD bn from Jan 2009 (Median) to May 2018, with 113 observations. The data reached an all-time high of -22.000 USD mn in Aug 2009 and a record low of -2.656 USD bn in Apr 2014. United States Trade Balance: India: sa data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.JA010: Trade Statistics: Census Basis: By Country: Trade Balance.

Data and insights on India's Trade Balance - current and historical values on deficit and surplus, top countries, and its economic impact

India's trade deficit with China was over 100 billion U.S. dollars in 2022. The value of bilateral trade between the two countries was worth more than 136 billion U.S. dollars for the same year. India-China bilateral trade has rapidly expanded, propelling China to become India's largest goods trading partner.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for India (XTNTVA01INQ667N) from Q1 1990 to Q1 2025 about India, trade, Net, and goods.

In fiscal year 2025, India's balance of trade with Latin American and Caribbean countries was a deficit of nearly **** billion U.S. dollars. The balance of trade calculates the comparison of exports against imports, determining a surplus (when exports outweigh imports) or a deficit (when imports are more than exports) of trade. The trade balance is also a component of a country's GDP.

IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data was reported at 0.040 USD mn in Dec 2017. This records an increase from the previous number of -0.090 USD mn for Sep 2017. IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data is updated quarterly, averaging 0.018 USD mn from Dec 1972 (Median) to Dec 2017, with 113 observations. The data reached an all-time high of 1.677 USD mn in Sep 2011 and a record low of -17.330 USD mn in Dec 2006. IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Quarterly.

This layer shows Exports, Imports and Trade Balance in India in US $ (Millions) as per the Economic Survey Report 2024-2025. Data source: https://www.indiabudget.gov.in/economicsurvey/doc/stat/tab6.1b.pdfNote:P: ProvisionalFor the years 1956-57, 1957-58, 1958-59 and 1959-60, the data are as per the Fourteenth Report of the Estimates Committee (1971-72) of theerstwhile Ministry of Foreign Trade. This web layer is offered by Esri India, for ArcGIS Online subscribers. If you have any questions or comments, please let us know via content@esri.in

IN: Trade Balance: Advanced Economies: United States data was reported at 5.821 USD bn in Mar 2018. This records an increase from the previous number of 4.469 USD bn for Dec 2017. IN: Trade Balance: Advanced Economies: United States data is updated quarterly, averaging 95.777 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 6.342 USD bn in Sep 2017 and a record low of -402.880 USD mn in Sep 1980. IN: Trade Balance: Advanced Economies: United States data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Quarterly.

High Frequency Indicator: The dataset contains year- and month-wise historically compiled data from the year 2007 to till date on the India's top 25 trading countries with trading of goods by import and export, along with details of country-wise value, both in indian rupees and u.s. dollars, of imports, exports and trade balance.

At the end of fiscal year 2025, the value of trade balance of India with Northeast Asian countries was a deficit of more than *** billion U.S. dollars. The balance of trade calculates the comparison of exports against imports, determining a surplus (when exports outweigh imports) or a deficit (when imports are more than exports) of trade. The trade balance is also a component of a country's GDP.

IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Timor-Leste data was reported at 0.620 USD mn in Mar 2018. This records a decrease from the previous number of 1.120 USD mn for Dec 2017. IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Timor-Leste data is updated quarterly, averaging 0.294 USD mn from Mar 2005 (Median) to Mar 2018, with 53 observations. The data reached an all-time high of 544.838 USD mn in Dec 2010 and a record low of -21.066 USD mn in Sep 2011. IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Timor-Leste data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Quarterly.

In fiscal year 2023, the value for the balance of trade India had with Israel was over 6,127 million U.S. dollars. During the same time period, the value for the balance of trade India had with Egypt was 2,157 million dollars. The balance of trade calculates the comparison of exports against imports, determining a surplus (when exports outweigh imports) or a deficit (when imports are more than exports) of trade. The trade balance is also a component of a country's GDP.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

In the financial year 2024, India recorded a trade surplus of over 35 billion U.S. dollars with its largest trading partner, the United States. Key merchandise exports from India included jewelry, pharmaceuticals, and petrochemicals. However, this trade surplus was projected to decrease to 25 billion dollars in the fiscal year 2025.