In the financial year 2024, India recorded a trade surplus of over ** 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 ** billion dollars in the fiscal year 2025.

Net trade in goods and services (BoP, current US$) in India was reported at --101034797310 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Net trade in goods and services (BoP, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Exports to United States in India decreased to 504.73 INR Billion in January from 539.17 INR Billion in December of 2023. This dataset includes a chart with historical data for India Exports to the United States.

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)

In 2022, India's average trade tariff on the United States was over ** percent. This was an increase compared to the previous year, when the average trade tariff was **** percent. The United States has been India's largest export partner in recent years.

The value of bilateral trade between India and China was worth about *** billion U.S. dollars in 2023. India-China bilateral trade has rapidly expanded, propelling China to become India's largest goods trading partner.

India Exports: USA: Aircraft, Spacecraft & Parts data was reported at 634.990 USD mn in 2018. This records an increase from the previous number of 606.940 USD mn for 2017. India Exports: USA: Aircraft, Spacecraft & Parts data is updated yearly, averaging 52.740 USD mn from Mar 1997 (Median) to 2018, with 22 observations. The data reached an all-time high of 634.990 USD mn in 2018 and a record low of 0.770 USD mn in 1997. India Exports: USA: Aircraft, Spacecraft & Parts data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under Global Database’s India – Table IN.JAC025: Foreign Trade: Harmonized System 2 Digits: United States.

The value of trade between India and the ASEAN region amounted to over 120 billion U.S. dollars in fiscal year 2024. The largest portion of this trade came from Singapore, valued at over 35 billion dollars that year. Of the trade between India and Singapore, imports into India had a higher value than its exports.

India Exports: USA: Misc Goods data was reported at 1.600 USD mn in 2018. This records a decrease from the previous number of 26.210 USD mn for 2017. India Exports: USA: Misc Goods data is updated yearly, averaging 113.755 USD mn from Mar 1997 (Median) to 2018, with 22 observations. The data reached an all-time high of 367.010 USD mn in 2003 and a record low of 1.600 USD mn in 2018. India Exports: USA: Misc Goods data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under Global Database’s India – Table IN.JAC025: Foreign Trade: Harmonized System 2 Digits: United States.

India's total Exports in 2024 were valued at US$434.44 Billion, according to the United Nations COMTRADE database on international trade. India's main export partners were: the United States, the United Arab Emirates and the Netherlands. The top three export commodities were: Mineral fuels, oils, distillation products; Electrical, electronic equipment and Machinery, nuclear reactors, boilers. Total Imports were valued at US$697.75 Billion. In 2024, India had a trade deficit of US$263.31 Billion.

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.

473 Global export shipment records of Usa Importer with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

In 2023, China was the country with the highest trade surplus, with approximately ****** billion U.S. dollars. The leading trade nations Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness. However, if that were true, then the top four, China, Germany, Russia and Ireland, would be considered the best performing countries in the world. However, this would mean that the United States, Great Britain, India and France would be among the weakest nations considering that they are four countries with the highest trade deficit. In fact, they are leading industrial nations. While China is known for producing and exporting products at a competitive price, it has undervalued its exchange rate in order to promote exports. However, China is now working to reduce its reliance on exports even though they continue to export large and increasing quantities of goods. In the case of Germany, the value of the euro may not be high enough, however growth concerning the value of exports has slowed over the past few years. In contrast, the value of the dollar in the United States may be too high, favoring imports as opposed to exports.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around ***** billion U.S. dollars.

Key Provisions of the India–UK FTA

• Tariff Reductions: India will eliminate tariffs on 99% of British goods, including whisky, automobiles, and medical devices. Conversely, the UK will reduce tariffs on Indian exports such as textiles, leather, and engineering goods. Notably, whisky tariffs in India will decrease from 150% to 75%, with a further reduction to 40% over the next decade.
• Trade Volume Increase: The FTA is expected to boost bilateral trade by £25.5 billion annually by 2040, contributing an additional £4.8 billion to the UK's GDP each year.
• Labor Mobility: The agreement includes a "Double Contribution Convention," exempting Indian professionals temporarily posted to the UK from paying national insurance contributions for up to three years. This provision aims to facilitate the movement of skilled labor between the two countries.
• Investment Protections: An investment treaty accompanying the FTA will allow companies to sue either government if they believe policy changes unfairly harm their investment or profits. This mechanism is designed to protect investors against potential unfair treatment under local laws.

India and the U.S. finalize the initial phase of a trade agreement, focusing on agriculture and tariffs, aiming for $500 billion trade by 2030.

In fiscal year 2023, the value of trade India had with the United Arab Emirates was about ** billion U.S. dollars. In comparison, the country of Saudi Arabia had a trade value of over ** million U.S. dollars with India that year.

The value of trade between India and Latin America and Caribbean countries amounted to nearly 34 billion U.S. dollars in fiscal year 2024. While trade values had consistently increased from fiscal year 2008 till 2019.

United States Imports from India of Beverages, spirits and vinegar was US$19.2 Million during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from India of Beverages, spirits and vinegar - data, historical chart and statistics - was last updated on August of 2025.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for India (XTNTVA01INA667S) from 1990 to 2024 about India, trade, Net, and goods.