India recorded a trade deficit of 14.05 USD Billion in February 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.

In 2018, India's trade deficit of goods amounted to around 189.69 billion U.S. dollars, a significant slump after a steady recovery towards the black since 2013.

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 probably the price of crude oil and the rapid economic growth, which means that export trade now needs to catch up to the demand.

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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for India (XTNTVA01INA664N) from 1990 to 2024 about India, trade, Net, and goods.

Samoa WS: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data was reported at -0.961 USD mn in 2017. This records an increase from the previous number of -1.291 USD mn for 2016. Samoa WS: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data is updated yearly, averaging -0.100 USD mn from Dec 1964 (Median) to 2017, with 51 observations. The data reached an all-time high of 0.326 USD mn in 1979 and a record low of -2.075 USD mn in 1996. Samoa WS: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Samoa – Table WS.IMF.DOT: Trade Balance: by Country: Annual.

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 Trade Balance: USD: Non-Oil & Non-Gold data was reported at -11.330 USD bn in Jan 2025. This records a decrease from the previous number of -7.320 USD bn for Dec 2024. India Trade Balance: USD: Non-Oil & Non-Gold data is updated monthly, averaging -7.320 USD bn from May 2017 (Median) to Jan 2025, with 93 observations. The data reached an all-time high of 2.910 USD bn in Jun 2020 and a record low of -13.920 USD bn in Sep 2022. India Trade Balance: USD: Non-Oil & Non-Gold data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under India Premium Database’s Foreign Trade – Table IN.JAA001: Trade in Merchandise.

India Trade Balance: USD: Oil data was reported at -9.860 USD bn in Jan 2025. This records an increase from the previous number of -10.354 USD bn for Dec 2024. India Trade Balance: USD: Oil data is updated monthly, averaging -7.544 USD bn from Apr 2011 (Median) to Jan 2025, with 166 observations. The data reached an all-time high of -1.814 USD bn in May 2020 and a record low of -13.859 USD bn in Oct 2024. India Trade Balance: USD: Oil data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under India Premium Database’s Foreign Trade – Table IN.JAA001: Trade in Merchandise.

India IN: Trade Balance: Advanced Economies: Canada data was reported at -2.517 USD bn in 2017. This records a decrease from the previous number of -953.707 USD mn for 2016. India IN: Trade Balance: Advanced Economies: Canada data is updated yearly, averaging -75.497 USD mn from Dec 1948 (Median) to 2017, with 70 observations. The data reached an all-time high of 244.000 USD mn in 2000 and a record low of -2.517 USD bn in 2017. India IN: Trade Balance: Advanced Economies: Canada 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: Annual.

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 Q4 2024 about India, trade, Net, and goods.

At the end of fiscal year 2022, the value for the balance of trade India had with Latin American and Caribbean countries was a deficit of over six 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.

India Trade Balance: Annual: USD: Oil data was reported at -94.533 USD bn in 2019. This records a decrease from the previous number of -71.194 USD bn for 2018. India Trade Balance: Annual: USD: Oil data is updated yearly, averaging -6.309 USD bn from Mar 1971 (Median) to 2019, with 49 observations. The data reached an all-time high of -168.500 USD mn in 1971 and a record low of -103.175 USD bn in 2013. India Trade Balance: Annual: USD: Oil data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.JAA001: Trade Statistics.

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

• India trade balance for 2022 was -119.53 billion US dollars, a 43.78% increase from 2021.
• India trade balance for 2021 was -83.13 billion US dollars, a 690.53% increase from 2020.
• India trade balance for 2020 was -10.52 billion US dollars, a 85.61% decline from 2019.

This statistic shows the trade balance of South Korea with India up to 2017, since the Comprehensive Economic Partnership Agreement came into force in 2010. In 2017, South Korea's trade surplus with India amounted to about 10.11 billion U.S. dollars.

Extra-Euro Area trade: Trade balance in partnership with India was EUR-19795.80 Million in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Extra-Euro Area trade: Trade balance in partnership with India - last updated from the EUROSTAT on March of 2025. Historically, Extra-Euro Area trade: Trade balance in partnership with India reached a record high of EUR2810.20 Million in December of 2010 and a record low of EUR-19795.80 Million in December of 2024.

Telecommunications, computer, and information services in India had the highest trade balance in 2022, accounting for over 82 billion U.S. dollars. Other business services ranked second during the measured time period.

At the end of fiscal year 2021, the value for the balance of trade India had with Northeast Asian countries was a deficit of more than 66 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.

India IN: Trade Balance: Advanced Economies: Singapore data was reported at 209.620 USD mn in Mar 2018. This records a decrease from the previous number of 849.390 USD mn for Dec 2017. India IN: Trade Balance: Advanced Economies: Singapore data is updated quarterly, averaging 0.800 USD mn from Mar 1960 (Median) to Mar 2018, with 225 observations. The data reached an all-time high of 3.118 USD bn in Jun 2011 and a record low of -515.006 USD mn in Sep 2015. India IN: Trade Balance: Advanced Economies: Singapore 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.