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.

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.

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

CEIC extends history for monthly Trade Balance. The Ministry of Commerce and Industry provides Trade Balance in USD. Trade Balance prior to April 1990 is sourced from the International Monetary Fund.

Further information about India's Trade Balance

• 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)

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.

Key information about India Total Exports

• India Total Exports expanded 1.3 % YoY in Jan 2025, compared with an increase of 1.0 % YoY in the previous month
• India Total Exports Growth data is updated monthly, available from Jan 1958 to Jan 2025, with an averaged rate of 13.1 %
• The data reached an all-time high of 195.3 % in Apr 2021 and a record low of -57.1 % in Apr 2020

CEIC calculates Total Exports Growth from monthly Total Exports. The Ministry of Commerce and Industry provides Total Exports, FOB, in local currency. Total Exports Growth prior to April 1991 is sourced from the International Monetary Fund.


Further information about India Total Exports

• In the latest reports, India Total Exports recorded 36.4 USD bn in Jan 2025
• Total Imports recorded 59.4 USD bn in Jan 2025, which registered an increase of 14.5 % year on year
• India Trade Balance recorded a deficit of 23.0 USD bn in Jan 2025

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.

India recorded a Current Account surplus of 13500 USD Million in the first quarter of 2025. This dataset provides - India Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 information about India Total Exports

• India Total Exports recorded 36.4 USD bn in Jan 2025, compared with 38.0 USD bn in the previous month
• India Total Exports data is updated monthly, available from Apr 1990 to Jan 2025, with an averaged value of 12.4 USD bn
• The data reached an all-time high of 44.6 USD bn in Mar 2022 and a record low of 1.3 USD bn in Jun 1991

The Ministry of Commerce and Industry provides monthly Total Exports, FOB, in USD. [COVID-19-IMPACT]


Further information about India Total Exports

• In the latest reports, India Total Exports grew 1.3 % YoY in Jan 2025
• Total Imports recorded 59.4 USD bn in Jan 2025, which registered an increase of 14.5 % year on year
• India Trade Balance recorded a deficit of 23.0 USD bn in Jan 2025

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.

Key information about India Current Account Balance: % of GDP

• India Current Account deficit accounted for 1.2 % of the country's Nominal GDP in Sep 2024, compared with a 1.1 % deficit in the previous quarter.
• India Current Account Balance: % of Nominal GDP data is updated quarterly, available from Jun 2004 to Sep 2024, with an average value of -1.5 %.
• The data reached an all-time high of 3.7 % in Jun 2020 and a record low of -6.8 % in Dec 2012.

CEIC calculates Current Account Balance as % of Nominal GDP from quarterly Current Account Balance and quarterly Nominal GDP. The Reserve Bank of India provides Current Account Balance in local currency based on BPM6. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Current Account Balance as % of Nominal GDP prior to Q2 2011 is calculated from Current Account Balance based on BPM5 and Nominal GDP based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Key information about India Current Account Balance: % of GDP

• In the latest reports of India, Current Account recorded a deficit of 11.2 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 5.0 USD bn in Sep 2024.
• India Direct Investment Abroad expanded by 7.3 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 19.8 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.

Exports in India increased to 38.73 USD Billion in May from 38.49 USD Billion in April of 2025. This dataset provides the latest reported value for - India Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Key information about India Current Account Balance

• India Current Account recorded a deficit of 11.2 USD bn in Sep 2024, compared with a deficit of 10.2 USD bn in the previous quarter.
• India Current Account Balance: USD mn data is updated quarterly, available from Jun 1949 to Sep 2024, with an averaged value of -349.9 USD mn.
• The data reached an all-time high of 19.1 USD bn in Jun 2020 and a record low of -31.9 USD bn in Dec 2012.
• CEIC extends history for quarterly Current Account Balance. The Reserve Bank of India provides Current Account Balance in USD based on BPM6. Current Account Balance prior to Q2 2009 is based on BPM5.
• Foreign Direct Investment (FDI) increased by 5.0 USD bn in Sep 2024.
• India Direct Investment Abroad expanded by 7.3 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 19.8 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.

In fiscal year 2025, the current account balance to GDP ratio in India was negative or running a deficit of *** percent. The current account balance to GDP ratio was positive in fiscal year 2021, valuing to nearly *** percent.

Key information about India Total Imports

• India Total Imports recorded 59.4 USD bn in Jan 2025, compared with a value of 59.9 USD bn in the previous month
• India Total Imports data is updated monthly, available from Apr 1990 to Jan 2025, with an average number of 18.3 USD bn
• The data reached an all-time high of 64.4 USD bn in Jun 2022 and a record low of 1.3 USD bn in Jul 1991

The Ministry of Commerce and Industry provides monthly Total Imports, CIF, in USD. [COVID-19-IMPACT]


Further information about India Total Imports

• In the latest reports, India Total Imports grew 14.5 % YoY in Jan 2025
• Total Exports grew 1.3 % YoY, to 36.4 USD bn in Jan 2025
• India Trade Balance recorded a deficit of 23.0 USD bn in Jan 2025

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.

China Exports to India was US$120.46 Billion during 2024, according to the United Nations COMTRADE database on international trade. China Exports to India - data, historical chart and statistics - was last updated on June of 2025.

India Petrochemical: Trade Balance: Volume: Others: Cellulose Acetate Butyrate data was reported at -5.000 Metric Ton in 2017. This records a decrease from the previous number of -4.000 Metric Ton for 2016. India Petrochemical: Trade Balance: Volume: Others: Cellulose Acetate Butyrate data is updated yearly, averaging -20.500 Metric Ton from Mar 2007 (Median) to 2017, with 10 observations. The data reached an all-time high of 218.000 Metric Ton in 2012 and a record low of -2,166.000 Metric Ton in 2008. India Petrochemical: Trade Balance: Volume: Others: Cellulose Acetate Butyrate data remains active status in CEIC and is reported by Department of Chemicals and Petrochemicals. The data is categorized under India Premium Database’s Chemical and Petrochemical Sector – Table IN.RHF012: Petrochemical: Trade Balance: Volume.