India · External sector · Monthly and fiscal years

India — Trade Deficit

Last update: 16 Oct 2026

India's merchandise trade deficit was $26.9 billion in Aug 2026, against $27.2 billion a year earlier. Services ran a surplus of $16.5 billion on the RBI's monthly figures, leaving a combined goods-and-services deficit of $10.3 billion. In the fiscal year so far (Apr–Aug 2026) the goods deficit is $147.4 billion against $123.9 billion in the same months a year earlier, with exports up 17.6% and imports up 18.2%.

Within the Aug 2026 merchandise balance, petroleum ran a deficit of $9.87 billion and gems and jewellery a deficit of $2.94 billion; everything else together ran a deficit of $14.0 billion. In FY 2025-26 the widest bilateral deficit was with China ($112.1 billion), then Russia ($50.9 billion); the largest surplus was with the United States ($33.9 billion). For the full year the merchandise deficit was $334.3 billion, 8.5% of GDP.

  • Merchandise tradeAug 2026DGCI&S TradeStat · monthly
  • Services tradeAug 2026RBI · monthly
  • Partners and regionsJul 2026DGCI&S monthly database
  • Services by typeQ1 2026-27IMF BOP · quarterly
  • Database updated16 Oct 2026Published 16 Oct 2026
  • Next release16 Nov 2026Commerce ministry monthly trade release (DGCI&S quick estimates) · expected

Merchandise trade balance

Provisional
−$26.9B Aug 2025: −$27.2B · deficit narrower by $0.4B Aug 2026 · DGCI&S

Services trade balance

Provisional
+$16.5B Aug 2025: +$15.6B · surplus larger by $0.9B Aug 2026 · RBI

Goods and services balance

Provisional
−$10.3B Aug 2025: −$11.6B · deficit narrower by $1.3B Aug 2026 · DGCI&S + RBI

Non-petroleum, non-gems balance

Provisional
−$14.0B Aug 2025: −$12.8B · deficit wider by $1.2B Aug 2026 · DGCI&S

Merchandise balance, fiscal year to date

Provisional
−$147.4B Apr–Aug 2025: −$123.9B · deficit wider by $23.6B Apr–Aug 2026 · DGCI&S

Featured

Trade balance by month: goods and services, down to each commodity

One row per part, one block per month over the last 12 months, oldest lightest. The top row is the level's total and the rows below add to it. On the right, the latest month against a year earlier and the month before. Open a row to go one level down: goods split into petroleum, gems and jewellery and all other goods, then into DGCI&S commodity groups and commodities; services split into the IMF's types.

For example: If goods ran a deficit of $25 billion in each of 12 months and services a surplus of $15 billion, the goods row reaches $300 billion left of zero, the services row $180 billion right of it, and the top row's dot sits at −$120 billion.

Includes provisional data

Goods and services in Aug 2026: a deficit of $10.3B, $1.3B narrower than a year earlier. Exports +20.3% and imports +15.5% on the year. The largest change on the year was Services, +$0.9B. Over the 12 months shown: −$135.3B.

−$400B−$200B0$200B$400B Aug 2026 vs a year earliervs the month beforeExports · imports, on the year
Goods and services −$10.3Bprovisional +$1.3B+$3.9BExp +20.3% Imp +15.5%
−$26.9Bprovisional +$0.4B+$5.0BExp +26.1% Imp +14.1%
+$16.5Bprovisional +$0.9B−$1.1BExp +13.7% Imp +21.4%

Each block is one month, oldest lightest; a block left of zero is a deficit, in red, and right of zero a surplus. The dot is the total over the 12 months shown. The rows add to the top row in every month. Changes are in money, because a percentage change of a balance that can switch sign has no meaning; the last column is how fast the row's exports and imports grew. Open a row with › to see what it is made of. Merchandise: DGCI&S (TradeStat), customs basis. Services: RBI monthly releases.

1 · Merchandise trade

Merchandise exports, imports and the balance by major component

Merchandise exports, imports and the balance

DGCI&S's customs-basis exports and imports side by side, with the balance as a line. A month is the difference between consecutive April-to-month cumulatives of the same database, so revisions to earlier months show up here.

Includes provisional data

US$ billion

September 2023 Exports: +$34.4B Imports: +$54.2B Balance: −$19.8BOctober 2023 Exports: +$33.4B Imports: +$63.0B Balance: −$29.6BNovember 2023 Exports: +$33.7B Imports: +$54.8B Balance: −$21.0BDecember 2023 Exports: +$38.4B Imports: +$56.9B Balance: −$18.5BJanuary 2024 Exports: +$37.3B Imports: +$53.7B Balance: −$16.4BFebruary 2024 Exports: +$41.4B Imports: +$59.8B Balance: −$18.4BMarch 2024 Exports: +$41.7B Imports: +$56.6B Balance: −$14.9BApril 2024 Exports: +$39.8B Imports: +$54.5B Balance: −$14.7BMay 2024 Exports: +$38.8B Imports: +$61.7B Balance: −$22.9BJune 2024 Exports: +$35.4B Imports: +$56.0B Balance: −$20.5BJuly 2024 Exports: +$32.7B Imports: +$59.5B Balance: −$26.8BAugust 2024 Exports: +$32.9B Imports: +$68.5B Balance: −$35.6BSeptember 2024 Exports: +$34.1B Imports: +$58.7B Balance: −$24.7BOctober 2024 Exports: +$39.0B Imports: +$65.2B Balance: −$26.2BNovember 2024 Exports: +$31.9B Imports: +$63.9B Balance: −$31.9BDecember 2024 Exports: +$37.8B Imports: +$58.4B Balance: −$20.6BJanuary 2025 Exports: +$36.3B Imports: +$59.8B Balance: −$23.4BFebruary 2025 Exports: +$36.9B Imports: +$51.3B Balance: −$14.4BMarch 2025 Exports: +$42.0B Imports: +$63.7B Balance: −$21.7BApril 2025 Exports: +$38.2B Imports: +$65.4B Balance: −$27.1BMay 2025 Exports: +$38.3B Imports: +$60.8B Balance: −$22.6BJune 2025 Exports: +$35.0B Imports: +$54.1B Balance: −$19.1BJuly 2025 Exports: +$37.0B Imports: +$64.9B Balance: −$27.9BAugust 2025 Exports: +$34.7B Imports: +$62.0B Balance: −$27.2BSeptember 2025 Exports: +$36.1B Imports: +$69.1B Balance: −$33.0BOctober 2025 Exports: +$34.1B Imports: +$76.7B Balance: −$42.6BNovember 2025 Exports: +$37.8B Imports: +$63.0B Balance: −$25.1BDecember 2025 Exports: +$38.2B Imports: +$64.4B Balance: −$26.2BJanuary 2026 Exports: +$36.5B Imports: +$71.7B Balance: −$35.2BFebruary 2026 Exports: +$36.6B Imports: +$63.9B Balance: −$27.3BMarch 2026 Exports: +$38.9B Imports: +$59.9B Balance: −$21.0BApril 2026 Exports: +$42.5B Imports: +$71.9B Balance: −$29.4BMay 2026 Exports: +$44.8B Imports: +$73.4B Balance: −$28.6BJune 2026 Exports: +$40.0B Imports: +$70.8B Balance: −$30.8BJuly 2026 Exports: +$44.3B Imports: +$76.2B Balance: −$31.9BAugust 2026 Exports: +$43.8B Imports: +$70.7B Balance: −$26.9B
  • Exports
  • Imports
  • Balance

Merchandise balance: petroleum, gems and jewellery, and other goods

The balance split into petroleum (principal commodity group 20), gems and jewellery (group 6, which includes gold) and everything else, the Commerce ministry's non-petroleum, non-gems measure. The parts add up to the merchandise balance, drawn as a line.

For example: A −$25 billion merchandise balance made of −$12 billion in petroleum, −$3 billion in gems and jewellery and −$10 billion in everything else: the three stacked bars reach −25 together.

Includes provisional data

US$ billion

September 2023 Everything else: −$9.3B Petroleum: −$7.5B Gems and jewellery: −$3.0B Merchandise balance: −$19.8BOctober 2023 Everything else: −$12.3B Petroleum: −$10.3B Gems and jewellery: −$7.0B Merchandise balance: −$29.6BNovember 2023 Everything else: −$11.2B Petroleum: −$7.5B Gems and jewellery: −$2.2B Merchandise balance: −$21.0BDecember 2023 Everything else: −$7.8B Petroleum: −$8.1B Gems and jewellery: −$2.7B Merchandise balance: −$18.5BJanuary 2024 Everything else: −$7.5B Petroleum: −$6.9B Gems and jewellery: −$2.0B Merchandise balance: −$16.4BFebruary 2024 Everything else: −$3.6B Petroleum: −$8.7B Gems and jewellery: −$6.1B Merchandise balance: −$18.4BMarch 2024 Everything else: −$1.8B Petroleum: −$10.9B Gems and jewellery: −$2.2B Merchandise balance: −$14.9BApril 2024 Everything else: −$6.6B Petroleum: −$5.3B Gems and jewellery: −$2.8B Merchandise balance: −$14.7BMay 2024 Everything else: −$7.5B Petroleum: −$12.8B Gems and jewellery: −$2.6B Merchandise balance: −$22.9BJune 2024 Everything else: −$8.7B Petroleum: −$9.2B Gems and jewellery: −$2.7B Merchandise balance: −$20.5BJuly 2024 Everything else: −$11.7B Petroleum: −$10.6B Gems and jewellery: −$4.4B Merchandise balance: −$26.8BAugust 2024 Everything else: −$14.3B Petroleum: −$7.9B Gems and jewellery: −$13.4B Merchandise balance: −$35.6BSeptember 2024 Everything else: −$9.7B Petroleum: −$10.6B Gems and jewellery: −$4.3B Merchandise balance: −$24.7BOctober 2024 Everything else: −$7.8B Petroleum: −$14.5B Gems and jewellery: −$4.0B Merchandise balance: −$26.2BNovember 2024 Everything else: −$10.0B Petroleum: −$12.4B Gems and jewellery: −$9.5B Merchandise balance: −$31.9BDecember 2024 Everything else: −$6.7B Petroleum: −$8.9B Gems and jewellery: −$5.0B Merchandise balance: −$20.6BJanuary 2025 Everything else: −$10.5B Petroleum: −$10.0B Gems and jewellery: −$3.0B Merchandise balance: −$23.4BFebruary 2025 Everything else: −$5.3B Petroleum: −$6.2B Gems and jewellery: −$3.0B Merchandise balance: −$14.4BMarch 2025 Everything else: −$3.1B Petroleum: −$14.1B Gems and jewellery: −$4.5B Merchandise balance: −$21.7BApril 2025 Everything else: −$10.8B Petroleum: −$13.6B Gems and jewellery: −$2.8B Merchandise balance: −$27.1BMay 2025 Everything else: −$10.7B Petroleum: −$9.3B Gems and jewellery: −$2.5B Merchandise balance: −$22.6BJune 2025 Everything else: −$7.7B Petroleum: −$9.3B Gems and jewellery: −$2.1B Merchandise balance: −$19.1BJuly 2025 Everything else: −$12.3B Petroleum: −$11.4B Gems and jewellery: −$4.1B Merchandise balance: −$27.9BAugust 2025 Everything else: −$12.8B Petroleum: −$9.1B Gems and jewellery: −$5.3B Merchandise balance: −$27.2BSeptember 2025 Everything else: −$13.4B Petroleum: −$9.3B Gems and jewellery: −$10.3B Merchandise balance: −$33.0BOctober 2025 Everything else: −$14.9B Petroleum: −$11.1B Gems and jewellery: −$16.6B Merchandise balance: −$42.6BNovember 2025 Everything else: −$9.4B Petroleum: −$10.4B Gems and jewellery: −$5.3B Merchandise balance: −$25.1BDecember 2025 Everything else: −$11.1B Petroleum: −$10.3B Gems and jewellery: −$4.8B Merchandise balance: −$26.2BJanuary 2026 Everything else: −$11.7B Petroleum: −$9.7B Gems and jewellery: −$13.9B Merchandise balance: −$35.2BFebruary 2026 Everything else: −$9.1B Petroleum: −$9.5B Gems and jewellery: −$8.7B Merchandise balance: −$27.3BMarch 2026 Everything else: −$9.2B Petroleum: −$7.0B Gems and jewellery: −$4.8B Merchandise balance: −$21.0BApril 2026 Everything else: −$13.6B Petroleum: −$10.0B Gems and jewellery: −$5.7B Merchandise balance: −$29.4BMay 2026 Everything else: −$11.6B Petroleum: −$14.5B Gems and jewellery: −$2.4B Merchandise balance: −$28.6BJune 2026 Everything else: −$14.7B Petroleum: −$14.8B Gems and jewellery: −$1.3B Merchandise balance: −$30.8BJuly 2026 Everything else: −$16.3B Petroleum: −$11.3B Gems and jewellery: −$4.3B Merchandise balance: −$31.9BAugust 2026 Everything else: −$14.0B Petroleum: −$9.9B Gems and jewellery: −$2.9B Merchandise balance: −$26.9B
  • Everything else
  • Petroleum
  • Gems and jewellery
  • Merchandise balance

Gold sits inside gems and jewellery in DGCI&S's classification; its own line is in the drill-down of that group below. Petroleum products exported from India's refineries are counted in petroleum exports, so the petroleum balance is smaller than crude imports alone.

2 · By product

Merchandise balance by principal commodity group, Aug 2026

DGCI&S's principal commodity classification is the one the Commerce ministry's monthly release uses: 21 groups and about 170 commodities. Select a group to open its commodities and its own trend. The HS chapter view for the latest fiscal year is further down.

Trade balance by principal commodity group, Aug 2026

Each bar is a group's balance in the period; under each name, the two flows and the change on Aug 2025. Deficits are to the left of zero, surpluses to the right.

For example: Petroleum Crude & Products: imports $16.7B against exports $6.8B gives a balance of −$9.9B, the widest deficit of any group in Aug 2026.

Includes provisional data

balance, US$ billion

  1. −$9.9B
  2. −$8.1B
  3. −$4.1B
  4. −$2.9B
  5. −$1.8B
  6. −$1.6B
  7. −$1.0B
  8. −$0.9B
  9. −$0.5B
  10. −$0.3B
  11. −$0.2B
  12. −$0.1B
  13. $0.0B
  14. $0.0B
  15. +$0.1B
  16. +$0.1B
  17. +$0.3B
  18. +$0.3B
  19. +$0.7B
  20. +$0.9B
  21. +$2.1B

Drill down

Petroleum Crude & Products: its commodities and its trend

Pick another group in the chart above to change this view; pick a commodity below to see its own trend instead of the group's.

Includes provisional data

In Aug 2026 India ran a deficit of $9.9B in petroleum crude & products: exports $6.8B, imports $16.7B, a worse balance than a year earlier by $0.8B. Petroleum: Crude was the largest deficit inside it (−$12.2B).

Commodities in Petroleum Crude & Products, Aug 2026

2 commodities, each a published DGCI&S row.

balance, US$ billion

  1. −$12.2B
  2. +$2.4B

Petroleum Crude & Products over the last 36 months

Exports, imports and the balance of petroleum crude & products, the group; commodity-level months are published from April 2022.

US$ billion

September 2023 Exports: +$6.5B Imports: +$14.0B Balance: −$7.5BOctober 2023 Exports: +$5.9B Imports: +$16.1B Balance: −$10.3BNovember 2023 Exports: +$7.4B Imports: +$14.9B Balance: −$7.5BDecember 2023 Exports: +$6.9B Imports: +$14.9B Balance: −$8.1BJanuary 2024 Exports: +$8.6B Imports: +$15.5B Balance: −$6.9BFebruary 2024 Exports: +$8.2B Imports: +$16.9B Balance: −$8.7BMarch 2024 Exports: +$5.4B Imports: +$16.3B Balance: −$10.9BApril 2024 Exports: +$11.2B Imports: +$16.5B Balance: −$5.3BMay 2024 Exports: +$7.1B Imports: +$20.0B Balance: −$12.8BJune 2024 Exports: +$5.9B Imports: +$15.1B Balance: −$9.2BJuly 2024 Exports: +$3.9B Imports: +$14.5B Balance: −$10.6BAugust 2024 Exports: +$4.2B Imports: +$12.1B Balance: −$7.9BSeptember 2024 Exports: +$4.3B Imports: +$14.9B Balance: −$10.6BOctober 2024 Exports: +$4.4B Imports: +$18.9B Balance: −$14.5BNovember 2024 Exports: +$3.5B Imports: +$15.9B Balance: −$12.4BDecember 2024 Exports: +$4.7B Imports: +$13.6B Balance: −$8.9BJanuary 2025 Exports: +$3.5B Imports: +$13.4B Balance: −$10.0BFebruary 2025 Exports: +$5.7B Imports: +$11.9B Balance: −$6.2BMarch 2025 Exports: +$4.9B Imports: +$19.0B Balance: −$14.1BApril 2025 Exports: +$7.1B Imports: +$20.7B Balance: −$13.6BMay 2025 Exports: +$5.4B Imports: +$14.7B Balance: −$9.3BJune 2025 Exports: +$4.5B Imports: +$13.8B Balance: −$9.3BJuly 2025 Exports: +$4.1B Imports: +$15.6B Balance: −$11.4BAugust 2025 Exports: +$4.2B Imports: +$13.3B Balance: −$9.1BSeptember 2025 Exports: +$4.7B Imports: +$14.0B Balance: −$9.3BOctober 2025 Exports: +$3.7B Imports: +$14.8B Balance: −$11.1BNovember 2025 Exports: +$3.7B Imports: +$14.1B Balance: −$10.4BDecember 2025 Exports: +$4.1B Imports: +$14.4B Balance: −$10.3BJanuary 2026 Exports: +$3.7B Imports: +$13.4B Balance: −$9.7BFebruary 2026 Exports: +$3.4B Imports: +$13.0B Balance: −$9.5BMarch 2026 Exports: +$5.2B Imports: +$12.2B Balance: −$7.0BApril 2026 Exports: +$8.6B Imports: +$18.6B Balance: −$10.0BMay 2026 Exports: +$8.1B Imports: +$22.7B Balance: −$14.5BJune 2026 Exports: +$4.5B Imports: +$19.3B Balance: −$14.8BJuly 2026 Exports: +$7.0B Imports: +$18.3B Balance: −$11.3BAugust 2026 Exports: +$6.8B Imports: +$16.7B Balance: −$9.9B
  • Exports
  • Imports
  • Balance

Balance by commodity group, month by month

Each cell is one group's balance in one month, coloured by its size: deficits red, surpluses green. Groups are in DGCI&S's order; the latest months are provisional.

Includes provisional data
GroupSep 24Oct 24Nov 24Dec 24Jan 25Feb 25Mar 25Apr 25May 25Jun 25Jul 25Aug 25Sep 25Oct 25Nov 25Dec 25Jan 26Feb 26Mar 26Apr 26May 26Jun 26Jul 26Aug 26
+$0.1B$0.0B$0.0B+$0.1B+$0.1B+$0.2B+$0.2B+$0.1B+$0.2B+$0.2B+$0.2B+$0.1B+$0.1B+$0.1B+$0.1B+$0.2B+$0.1B+$0.2B+$0.2B+$0.1B+$0.2B+$0.1B+$0.1B+$0.1B
+$0.5B+$0.2B−$0.1B+$0.8B+$0.5B+$1.1B+$1.5B+$1.2B+$0.8B+$0.1B−$0.1B$0.0B+$0.2B+$0.1B+$0.1B+$0.6B+$0.2B+$0.8B+$0.5B+$0.6B+$0.5B+$0.4B−$0.3B−$0.2B
+$0.6B+$0.8B+$0.7B+$0.7B+$0.5B+$0.5B+$0.6B+$0.6B+$0.7B+$0.6B+$0.6B+$0.6B+$0.8B+$0.9B+$0.8B+$0.8B+$0.6B+$0.5B+$0.7B+$0.6B+$0.7B+$0.7B+$0.7B+$0.7B
−$2.8B−$3.0B−$2.9B−$2.6B−$3.5B−$2.4B−$2.5B−$3.4B−$3.1B−$3.1B−$3.2B−$2.8B−$2.7B−$3.1B−$3.1B−$3.2B−$3.1B−$3.1B−$3.0B−$3.9B−$3.8B−$3.5B−$3.9B−$4.1B
+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.4B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B+$0.2B+$0.2B+$0.3B+$0.3B+$0.3B+$0.3B+$0.3B
−$4.3B−$4.0B−$9.5B−$5.0B−$3.0B−$3.0B−$4.5B−$2.8B−$2.5B−$2.1B−$4.1B−$5.3B−$10.3B−$16.6B−$5.3B−$4.8B−$13.9B−$8.7B−$4.8B−$5.7B−$2.4B−$1.3B−$4.3B−$2.9B
$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B
$0.0B−$0.3B−$1.2B−$0.6B−$0.7B+$0.1B+$1.6B−$1.1B−$2.6B−$0.3B−$1.0B−$1.0B−$1.6B−$2.2B−$1.4B−$0.6B−$0.3B−$0.1B+$1.1B−$0.2B−$0.5B−$1.8B−$1.9B−$0.9B
−$1.4B−$1.4B−$1.3B−$1.2B−$1.3B−$1.1B−$1.3B−$1.5B−$1.5B−$1.4B−$1.6B−$1.6B−$1.5B−$1.6B−$1.3B−$1.3B−$1.5B−$1.4B−$1.5B−$1.6B−$1.7B−$1.7B−$1.7B−$1.6B
+$0.1B+$0.2B+$0.2B+$0.2B+$0.2B+$0.1B+$0.2B+$0.2B+$0.2B+$0.2B+$0.1B+$0.1B$0.0B$0.0B+$0.1B+$0.1B$0.0B+$0.1B$0.0B−$0.1B$0.0B+$0.1B+$0.1B+$0.1B
−$0.5B−$0.5B−$0.5B−$0.4B−$0.5B−$0.4B−$0.3B−$0.4B−$0.4B−$0.4B−$0.4B−$0.4B−$0.4B−$0.5B−$0.5B−$0.4B−$0.4B−$0.3B−$0.3B−$0.3B−$0.3B−$0.4B−$0.3B−$0.3B
−$1.6B−$1.6B−$1.4B−$0.8B−$1.4B−$0.9B−$0.9B−$1.6B−$1.7B−$1.2B−$1.6B−$1.7B−$1.5B−$1.5B−$1.1B−$0.7B−$1.2B−$1.0B−$0.6B−$1.5B−$1.4B−$1.0B−$1.2B−$1.0B
−$0.4B−$0.5B−$0.5B−$0.5B−$0.5B−$0.3B−$0.5B−$0.5B−$0.5B−$0.5B−$0.6B−$0.5B−$0.5B−$0.6B−$0.5B−$0.6B−$0.5B−$0.6B−$0.6B−$0.6B−$0.5B−$0.6B−$0.6B−$0.5B
−$6.4B−$4.9B−$4.1B−$4.8B−$5.2B−$3.8B−$4.9B−$5.6B−$4.5B−$4.3B−$6.1B−$6.8B−$6.7B−$5.5B−$3.9B−$6.0B−$6.1B−$5.9B−$6.8B−$7.6B−$7.2B−$8.4B−$8.5B−$8.1B
−$1.3B−$1.3B−$1.9B−$1.6B−$1.8B−$1.2B−$0.9B−$1.6B−$1.9B−$1.4B−$1.8B−$1.9B−$1.7B−$2.3B−$1.6B−$2.2B−$2.2B−$2.0B−$2.2B−$2.1B−$2.1B−$2.2B−$2.0B−$1.8B
$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B$0.0B
+$0.9B+$1.7B+$0.8B+$1.3B+$0.2B−$0.1B+$0.6B+$0.2B+$0.8B+$1.1B+$0.3B+$0.6B+$0.2B−$0.5B+$0.6B−$0.2B−$0.1B+$0.9B+$0.8B+$0.5B+$2.2B+$1.3B+$0.7B+$0.9B
−$0.1B$0.0B−$0.1B$0.0B−$0.1B−$0.1B$0.0B−$0.1B−$0.1B−$0.1B$0.0B$0.0B−$0.2B−$0.1B−$0.1B$0.0B−$0.1B$0.0B$0.0B−$0.2B−$0.1B$0.0B−$0.1B−$0.1B
+$2.0B+$2.2B+$1.8B+$2.4B+$2.6B+$2.5B+$2.7B+$2.3B+$2.4B+$2.2B+$2.2B+$2.0B+$1.7B+$1.6B+$1.9B+$2.1B+$2.3B+$2.3B+$2.2B+$2.2B+$2.2B+$2.0B+$2.1B+$2.1B
−$10.6B−$14.5B−$12.4B−$8.9B−$10.0B−$6.2B−$14.1B−$13.6B−$9.3B−$9.3B−$11.4B−$9.1B−$9.3B−$11.1B−$10.4B−$10.3B−$9.7B−$9.5B−$7.0B−$10.0B−$14.5B−$14.8B−$11.3B−$9.9B
+$0.2B+$0.3B+$0.2B$0.0B+$0.1B+$0.2B+$0.3B+$0.1B+$0.1B+$0.2B+$0.2B+$0.1B+$0.1B+$0.1B+$0.1B+$0.1B+$0.2B+$0.2B+$0.1B+$0.3B+$0.1B$0.0B+$0.1B+$0.3B

Values are in US dollars in the matrix whatever the currency filter; the table view and the CSV carry both currencies.

3 · By country

Merchandise balance by region and partner country

Partners are DGCI&S's country of consignment or origin, grouped into its six regions and their sub-regions. Pick a region to narrow the partner chart; pick a partner to open its history. DGCI&S's monthly database trails its headline release, so partner figures are for Jul 2026.

Trade balance by region, Jul 2026

India's merchandise balance with each DGCI&S region; under each name, exports, imports and the change on Jul 2025. Pick a region for its sub-regions and to narrow the partner chart.

Includes provisional data

balance, US$ billion

  1. −$25.6B
  2. −$8.5B
  3. −$0.7B
  4. +$0.3B
  5. +$0.9B
  6. +$1.6B

Trade balance by partner, Jul 2026

The 15 widest deficits and the 10 largest surpluses among 40 partners; every partner is in the table. Monthly figures cover the 40 largest partners; choose a fiscal year or the year to date for all of them.

Includes provisional data

balance, US$ billion

  1. −$12.5B
  2. −$8.5B
  3. −$2.0B
  4. −$1.9B
  5. −$1.7B
  6. −$1.6B
  7. −$1.4B
  8. −$1.3B
  9. −$1.1B
  10. −$0.9B
  11. −$0.9B
  12. −$0.9B
  13. −$0.8B
  14. −$0.8B
  15. −$0.7B
  16. +$0.2B
  17. +$0.2B
  18. +$0.2B
  19. +$0.3B
  20. +$0.4B
  21. +$0.4B
  22. +$0.6B
  23. +$0.6B
  24. +$1.2B
  25. +$3.6B

A partner's share of a deficit is its deficit divided by the sum of all bilateral deficits in the period (surpluses likewise), so the shares on each side add to 100%. DGCI&S files a few entries under "Unspecified"; they are kept as published.

Drill down

China: India's trade with it, year by year

Pick another partner in the chart above to change this view. Fiscal years run April to March.

Includes provisional data

In FY 2025-26 India exported $19.5B to China and imported $131.6B, a deficit of $112.1B (worse by $13.0B than the year before); by total trade China was India's largest partner. So far this fiscal year (Apr–Jul 2026) the balance is −$44.9B, against −$34.9B in the same months a year earlier.

Fiscal years

US$ billion

FY 2016-17 Exports to: +$10.2B Imports from: +$61.3B Balance: −$51.1BFY 2017-18 Exports to: +$13.3B Imports from: +$76.4B Balance: −$63.0BFY 2018-19 Exports to: +$16.8B Imports from: +$70.3B Balance: −$53.6BFY 2019-20 Exports to: +$16.6B Imports from: +$65.3B Balance: −$48.6BFY 2020-21 Exports to: +$21.2B Imports from: +$65.2B Balance: −$44.0BFY 2021-22 Exports to: +$21.3B Imports from: +$94.6B Balance: −$73.3BFY 2022-23 Exports to: +$15.3B Imports from: +$98.5B Balance: −$83.2BFY 2023-24 Exports to: +$33.3B Imports from: +$101.7B Balance: −$68.4BFY 2024-25 Exports to: +$14.3B Imports from: +$113.4B Balance: −$99.2BFY 2025-26 Exports to: +$19.5B Imports from: +$131.6B Balance: −$112.1B
  • Exports to
  • Imports from
  • Balance

Month by month

US$ billion

September 2023 Exports to: +$1.3B Imports from: +$8.4B Balance: −$7.1BOctober 2023 Exports to: +$1.3B Imports from: +$9.5B Balance: −$8.3BNovember 2023 Exports to: +$1.4B Imports from: +$8.0B Balance: −$6.6BDecember 2023 Exports to: +$1.7B Imports from: +$8.9B Balance: −$7.3BJanuary 2024 Exports to: +$1.5B Imports from: +$9.0B Balance: −$7.4BFebruary 2024 Exports to: +$1.6B Imports from: +$8.1B Balance: −$6.5BMarch 2024 Exports to: +$1.6B Imports from: +$7.7B Balance: −$6.2BApril 2024 Exports to: +$1.3B Imports from: +$7.8B Balance: −$6.5BMay 2024 Exports to: +$1.3B Imports from: +$8.5B Balance: −$7.2BJune 2024 Exports to: +$1.2B Imports from: +$9.3B Balance: −$8.1BJuly 2024 Exports to: +$1.0B Imports from: +$10.4B Balance: −$9.4BAugust 2024 Exports to: +$1.0B Imports from: +$10.8B Balance: −$9.8BSeptember 2024 Exports to: +$1.1B Imports from: +$9.7B Balance: −$8.6BOctober 2024 Exports to: +$1.1B Imports from: +$9.6B Balance: −$8.5BNovember 2024 Exports to: +$1.2B Imports from: +$8.7B Balance: −$7.5BDecember 2024 Exports to: +$1.2B Imports from: +$9.7B Balance: −$8.5BJanuary 2025 Exports to: +$1.1B Imports from: +$10.5B Balance: −$9.4BFebruary 2025 Exports to: +$1.3B Imports from: +$8.7B Balance: −$7.5BMarch 2025 Exports to: +$1.5B Imports from: +$9.7B Balance: −$8.2BApril 2025 Exports to: +$1.4B Imports from: +$9.9B Balance: −$8.5BMay 2025 Exports to: +$1.6B Imports from: +$10.3B Balance: −$8.7BJune 2025 Exports to: +$1.4B Imports from: +$9.5B Balance: −$8.1BJuly 2025 Exports to: +$1.3B Imports from: +$10.9B Balance: −$9.6BAugust 2025 Exports to: +$1.2B Imports from: +$10.9B Balance: −$9.7BSeptember 2025 Exports to: +$1.5B Imports from: +$11.3B Balance: −$9.8BOctober 2025 Exports to: +$1.6B Imports from: +$11.1B Balance: −$9.5BNovember 2025 Exports to: +$2.2B Imports from: +$10.3B Balance: −$8.1BDecember 2025 Exports to: +$2.0B Imports from: +$11.7B Balance: −$9.7BJanuary 2026 Exports to: +$1.6B Imports from: +$12.2B Balance: −$10.6BFebruary 2026 Exports to: +$1.7B Imports from: +$11.4B Balance: −$9.7BMarch 2026 Exports to: +$1.9B Imports from: +$12.1B Balance: −$10.1BApril 2026 Exports to: +$1.8B Imports from: +$12.0B Balance: −$10.2BMay 2026 Exports to: +$2.0B Imports from: +$12.7B Balance: −$10.7BJune 2026 Exports to: +$1.8B Imports from: +$13.3B Balance: −$11.5BJuly 2026 Exports to: +$2.2B Imports from: +$14.7B Balance: −$12.5B
  • Exports to
  • Imports from
  • Balance

4 · By HS chapter

Merchandise trade by HS chapter and heading, FY 2025-26

The same trade by the harmonised system's 98 chapters, and inside a chapter by its four-digit headings for the latest fiscal year. This is the classification customs declarations use; the principal commodity groups above regroup these chapters.

Trade balance by HS chapter, FY 2025-26

The 15 widest deficits and the 10 largest surpluses among the chapters; every chapter is in the table. Pick a chapter to open its headings.

balance, US$ billion

  1. −$147.5B
  2. −$81.1B
  3. −$50.8B
  4. −$37.4B
  5. −$17.5B
  6. −$14.6B
  7. −$14.4B
  8. −$12.0B
  9. −$9.7B
  10. −$9.7B
  11. −$9.4B
  12. −$8.3B
  13. −$5.4B
  14. −$5.0B
  15. −$4.0B
  16. +$4.1B
  17. +$4.7B
  18. +$5.2B
  19. +$5.3B
  20. +$6.7B
  21. +$6.8B
  22. +$7.3B
  23. +$11.9B
  24. +$16.6B
  25. +$21.5B

5 · Services

Services trade and the balance by type of service

Services exports, imports and the balance

The RBI's monthly receipts and payments for services, with the balance as a line. The latest two months in each release are provisional; earlier months are revised pro rata to the quarterly balance of payments.

Includes provisional data

US$ billion

September 2023 Exports (receipts): +$28.4B Imports (payments): +$14.6B Balance: +$13.8BOctober 2023 Exports (receipts): +$28.0B Imports (payments): +$13.5B Balance: +$14.6BNovember 2023 Exports (receipts): +$28.1B Imports (payments): +$13.7B Balance: +$14.4BDecember 2023 Exports (receipts): +$31.6B Imports (payments): +$15.6B Balance: +$16.0BJanuary 2024 Exports (receipts): +$31.0B Imports (payments): +$14.8B Balance: +$16.2BFebruary 2024 Exports (receipts): +$28.3B Imports (payments): +$15.2B Balance: +$13.1BMarch 2024 Exports (receipts): +$30.0B Imports (payments): +$16.6B Balance: +$13.4BApril 2024 Exports (receipts): +$30.2B Imports (payments): +$16.7B Balance: +$13.4BMay 2024 Exports (receipts): +$29.6B Imports (payments): +$16.9B Balance: +$12.8BJune 2024 Exports (receipts): +$28.7B Imports (payments): +$15.1B Balance: +$13.5BJuly 2024 Exports (receipts): +$30.6B Imports (payments): +$15.9B Balance: +$14.6BAugust 2024 Exports (receipts): +$30.3B Imports (payments): +$16.5B Balance: +$13.9BSeptember 2024 Exports (receipts): +$32.6B Imports (payments): +$16.5B Balance: +$16.0BOctober 2024 Exports (receipts): +$34.4B Imports (payments): +$17.2B Balance: +$17.2BNovember 2024 Exports (receipts): +$32.1B Imports (payments): +$17.2B Balance: +$14.9BDecember 2024 Exports (receipts): +$37.0B Imports (payments): +$17.8B Balance: +$19.2BJanuary 2025 Exports (receipts): +$34.7B Imports (payments): +$16.7B Balance: +$18.0BFebruary 2025 Exports (receipts): +$31.6B Imports (payments): +$14.5B Balance: +$17.1BMarch 2025 Exports (receipts): +$35.6B Imports (payments): +$17.5B Balance: +$18.1BApril 2025 Exports (receipts): +$32.9B Imports (payments): +$16.9B Balance: +$15.9BMay 2025 Exports (receipts): +$32.5B Imports (payments): +$16.7B Balance: +$15.8BJune 2025 Exports (receipts): +$32.1B Imports (payments): +$15.9B Balance: +$16.2BJuly 2025 Exports (receipts): +$33.7B Imports (payments): +$17.3B Balance: +$16.4BAugust 2025 Exports (receipts): +$31.2B Imports (payments): +$15.6B Balance: +$15.6BSeptember 2025 Exports (receipts): +$36.7B Imports (payments): +$17.8B Balance: +$18.8BOctober 2025 Exports (receipts): +$35.2B Imports (payments): +$17.7B Balance: +$17.4BNovember 2025 Exports (receipts): +$34.3B Imports (payments): +$16.9B Balance: +$17.4BDecember 2025 Exports (receipts): +$41.8B Imports (payments): +$19.1B Balance: +$22.7BJanuary 2026 Exports (receipts): +$38.2B Imports (payments): +$16.6B Balance: +$21.5BFebruary 2026 Exports (receipts): +$34.7B Imports (payments): +$16.9B Balance: +$17.8BMarch 2026 Exports (receipts): +$38.2B Imports (payments): +$17.2B Balance: +$21.0BApril 2026 Exports (receipts): +$36.8B Imports (payments): +$18.4B Balance: +$18.4BMay 2026 Exports (receipts): +$33.2B Imports (payments): +$17.7B Balance: +$15.5BJune 2026 Exports (receipts): +$36.2B Imports (payments): +$18.5B Balance: +$17.7BJuly 2026 Exports (receipts): +$38.3B Imports (payments): +$20.6B Balance: +$17.6BAugust 2026 Exports (receipts): +$35.5B Imports (payments): +$18.9B Balance: +$16.5B
  • Exports (receipts)
  • Imports (payments)
  • Balance

Services balance by type, quarter by quarter

The IMF's quarterly balance-of-payments series compiled by the RBI, one bar segment per type of service; the line is all services. Computer services are shown in the table inside telecommunications, computer and information services, so the stack is not double counted.

For example: If software exports are $45 billion in a quarter and all other services together $40 billion, the stack reaches $85 billion and the computer segment is more than half of it.

Includes provisional data

US$ billion

  • Transport
  • Travel
  • Construction
  • Insurance and pension serv…
  • Financial services
  • Charges for the use of int…
  • Telecommunications, comput…
  • Other business services
  • Personal, cultural and rec…
  • Government goods and servi…
  • Manufacturing services on …
  • Maintenance and repair ser…
  • All services
July 2023 – September 2023 Transport: −$0.2B Travel: −$1.2B Construction: +$0.3B Insurance and pension serv…: $0.0B Financial services: +$0.9B Charges for the use of int…: −$2.9B Telecommunications, comput…: +$35.6B Other business services: +$7.8B Personal, cultural and rec…: −$0.9B Government goods and servi…: −$0.1B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.3B All services: +$39.9BOctober 2023 – December 2023 Transport: +$0.5B Travel: +$2.4B Construction: +$0.5B Insurance and pension serv…: $0.0B Financial services: +$1.5B Charges for the use of int…: −$4.2B Telecommunications, comput…: +$36.4B Other business services: +$8.6B Personal, cultural and rec…: −$0.5B Government goods and servi…: −$0.1B Manufacturing services on …: +$0.3B Maintenance and repair ser…: −$0.2B All services: +$45.0BJanuary 2024 – March 2024 Transport: −$0.1B Travel: +$1.9B Construction: +$0.9B Insurance and pension serv…: +$0.3B Financial services: +$0.3B Charges for the use of int…: −$3.0B Telecommunications, comput…: +$36.4B Other business services: +$6.2B Personal, cultural and rec…: −$0.2B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.3B Maintenance and repair ser…: −$0.4B All services: +$42.7BApril 2024 – June 2024 Transport: $0.0B Travel: −$1.8B Construction: +$0.9B Insurance and pension serv…: +$0.3B Financial services: +$0.9B Charges for the use of int…: −$4.1B Telecommunications, comput…: +$37.3B Other business services: +$6.4B Personal, cultural and rec…: −$0.1B Government goods and servi…: −$0.1B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.2B All services: +$39.9BJuly 2024 – September 2024 Transport: −$0.5B Travel: −$1.7B Construction: +$0.3B Insurance and pension serv…: +$0.1B Financial services: +$0.9B Charges for the use of int…: −$3.4B Telecommunications, comput…: +$39.4B Other business services: +$9.6B Personal, cultural and rec…: −$0.7B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.3B Maintenance and repair ser…: −$0.2B All services: +$44.5BOctober 2024 – December 2024 Transport: −$0.6B Travel: +$1.7B Construction: +$0.2B Insurance and pension serv…: $0.0B Financial services: +$1.3B Charges for the use of int…: −$4.0B Telecommunications, comput…: +$40.9B Other business services: +$11.4B Personal, cultural and rec…: −$0.1B Government goods and servi…: −$0.1B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.2B All services: +$51.2BJanuary 2025 – March 2025 Transport: −$0.2B Travel: +$1.2B Construction: +$0.7B Insurance and pension serv…: +$0.1B Financial services: +$1.2B Charges for the use of int…: −$4.0B Telecommunications, comput…: +$41.4B Other business services: +$13.2B Personal, cultural and rec…: −$0.2B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.2B All services: +$53.3BApril 2025 – June 2025 Transport: −$0.7B Travel: −$3.2B Construction: +$0.2B Insurance and pension serv…: +$0.3B Financial services: +$1.2B Charges for the use of int…: −$4.9B Telecommunications, comput…: +$41.5B Other business services: +$13.6B Personal, cultural and rec…: +$0.1B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.2B All services: +$47.9BJuly 2025 – September 2025 Transport: −$1.0B Travel: −$2.6B Construction: +$0.4B Insurance and pension serv…: +$0.2B Financial services: +$1.2B Charges for the use of int…: −$4.1B Telecommunications, comput…: +$44.0B Other business services: +$13.3B Personal, cultural and rec…: −$0.2B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.2B Maintenance and repair ser…: −$0.3B All services: +$50.9BOctober 2025 – December 2025 Transport: −$0.2B Travel: +$0.9B Construction: +$0.5B Insurance and pension serv…: +$0.1B Financial services: +$1.1B Charges for the use of int…: −$4.1B Telecommunications, comput…: +$47.0B Other business services: +$12.9B Personal, cultural and rec…: +$0.1B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.3B Maintenance and repair ser…: −$0.3B All services: +$57.5BJanuary 2026 – March 2026 Transport: +$0.2B Travel: +$1.1B Construction: +$0.4B Insurance and pension serv…: +$0.4B Financial services: +$1.0B Charges for the use of int…: −$3.8B Telecommunications, comput…: +$46.8B Other business services: +$14.7B Personal, cultural and rec…: −$0.1B Government goods and servi…: −$0.1B Manufacturing services on …: +$0.1B Maintenance and repair ser…: −$0.3B All services: +$60.4BApril 2026 – June 2026 Transport: −$0.6B Travel: −$3.4B Construction: +$0.3B Insurance and pension serv…: +$0.4B Financial services: +$1.2B Charges for the use of int…: −$6.4B Telecommunications, comput…: +$45.5B Other business services: +$15.8B Personal, cultural and rec…: +$0.1B Government goods and servi…: −$0.2B Manufacturing services on …: +$0.3B Maintenance and repair ser…: −$0.3B All services: +$51.6B

The RBI's monthly services figures and the IMF's quarterly series are the same statistics at different stages: the monthly numbers are provisional and the quarterly balance of payments revises them, so a quarter's months rarely add exactly to the IMF figure.

6 · Ten fiscal years

Trade balance by fiscal year and as a share of GDP

Trade balance by fiscal year: goods, services and the total

Full fiscal years (April to March): the merchandise balance from DGCI&S and the services balance summed from the RBI's months, with the goods-and-services total as a line.

Includes provisional data

US$ billion

FY 2016-17 Goods: −$108.5B Services: +$65.2B Goods and services: −$43.3BFY 2017-18 Goods: −$162.1B Services: +$69.6B Goods and services: −$92.5BFY 2018-19 Goods: −$184.0B Services: +$78.4B Goods and services: −$105.6BFY 2019-20 Goods: −$161.3B Services: +$80.1B Goods and services: −$81.3BFY 2020-21 Goods: −$102.6B Services: +$86.7B Goods and services: −$15.9BFY 2021-22 Goods: −$191.0B Services: +$107.5B Goods and services: −$83.5BFY 2022-23 Goods: −$264.9B Services: +$143.3B Goods and services: −$121.6BFY 2023-24 Goods: −$236.9B Services: +$162.8B Goods and services: −$74.1BFY 2024-25 Goods: −$283.5B Services: +$188.8B Goods and services: −$94.7BFY 2025-26 Goods: −$334.3B Services: +$216.7B Goods and services: −$117.6B
  • Goods
  • Services
  • Goods and services

Trade balance as a share of GDP

The merchandise balance, and the goods-and-services balance, in rupees divided by nominal GDP on each of MoSPI's two bases: the 2011-12 base (dashed) to FY 2024-25 and the 2022-23 base from FY 2022-23. The two bases are never joined; the overlap years show how much the base change moves the ratio.

For example: A ₹24 lakh crore goods deficit against a ₹330 lakh crore economy is 7.3% of GDP.

Includes provisional data

per cent of nominal GDP

FY 2016-17 Goods · 2022-23 base: not published Goods · 2011-12 base: −4.7% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −1.9% of GDPFY 2017-18 Goods · 2022-23 base: not published Goods · 2011-12 base: −6.1% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −3.5% of GDPFY 2018-19 Goods · 2022-23 base: not published Goods · 2011-12 base: −6.8% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −3.9% of GDPFY 2019-20 Goods · 2022-23 base: not published Goods · 2011-12 base: −5.7% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −2.9% of GDPFY 2020-21 Goods · 2022-23 base: not published Goods · 2011-12 base: −3.8% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −0.6% of GDPFY 2021-22 Goods · 2022-23 base: not published Goods · 2011-12 base: −6.0% of GDP Goods and services · 2022-23 base: not published Goods and services · 2011-12 base: −2.6% of GDPFY 2022-23 Goods · 2022-23 base: −8.1% of GDP Goods · 2011-12 base: −7.9% of GDP Goods and services · 2022-23 base: −3.7% of GDP Goods and services · 2011-12 base: −3.6% of GDPFY 2023-24 Goods · 2022-23 base: −6.8% of GDP Goods · 2011-12 base: −6.5% of GDP Goods and services · 2022-23 base: −2.1% of GDP Goods and services · 2011-12 base: −2.0% of GDPFY 2024-25 Goods · 2022-23 base: −7.5% of GDP Goods · 2011-12 base: −7.2% of GDP Goods and services · 2022-23 base: −2.5% of GDP Goods and services · 2011-12 base: −2.4% of GDPFY 2025-26 Goods · 2022-23 base: −8.5% of GDP Goods · 2011-12 base: not published Goods and services · 2022-23 base: −3.0% of GDP Goods and services · 2011-12 base: not publishedBalanced
  • Goods · 2022-23 base
  • Goods · 2011-12 base
  • Goods and services · 2022-23 base
  • Goods and services · 2011-12 base

Nominal GDP comes from the Economic Survey's statistical tables (2011-12 base) and the RBI Handbook's Table 1 (2022-23 base), both MoSPI's national accounts; the latest year's GDP is a provisional estimate, so its ratio is provisional too.

Sources

Publishers in this snapshot

Snapshot

Citation and snapshot details

Dataset india-trade-202608-55ec1647f722, refresh 5817af71-374a-5ceb-82d4-d4655295f192, published 16 Oct 2026, loaded into the database 16 Oct 2026. Every chart's table, CSV and Copy for AI carry each observation's Id, status and source page.

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Upcoming releases

  • 16 Nov 2026 · Commerce ministry monthly trade release (DGCI&S quick estimates) — October 2026 (expected)
  • 30 Nov 2026 · RBI monthly data on India's international trade in services — October 2026 (expected)
  • 1 Dec 2026 · RBI quarterly balance of payments (services revised) — July–September 2026 (expected)
Methodology and definitions

Coverage and definitions

Merchandise trade is DGCI&S's customs-basis count of goods crossing India's border (TradeStat), in US dollars and rupees as DGCI&S publishes them; fiscal years run April to March and "fiscal year to date" is April to the latest month. The month is the difference between consecutive April-to-month cumulatives of the same database. Services are the RBI's monthly receipts and payments (provisional until the quarterly balance of payments revises them), in dollars, with rupee values at the IMF period-average rate; services by type are the IMF's quarterly balance-of-payments series compiled by the RBI. A balance is exports minus imports: negative is a deficit. Petroleum is principal commodity group 20 and gems and jewellery group 6; the non-petroleum, non-gems balance leaves both out. A partner is the country of consignment or origin. A missing value is blank, never zero.

Merchandise data source

DGCI&S's TradeStat databank (Ministry of Commerce and Industry). The headline, the principal commodity groups and the commodities inside them come from its Foreign Trade Performance Analysis reports, which give April-to-month cumulatives for the year and the year before; a month is the difference between two consecutive cumulatives read from the same live database, so the twelve months of a year add exactly to the fiscal-year total. Partners, regions and HS chapters come from its monthly and annual export–import databanks. DGCI&S marks a year's months final when it loads them and revised-final after the following year's revision; this page shows the revised-final months as verified and later months as provisional.

Services

The RBI publishes monthly receipts and payments for services about 45 days after the month, in US dollars; the latest two months in each release are provisional and the earlier months are revised pro rata to the quarterly balance of payments. The goods-and-services total adds these to DGCI&S's customs-basis merchandise figures, as the Commerce ministry's own monthly release does; it is not the balance-of-payments goods figure the RBI publishes quarterly, which is on a different basis. Services by type are the IMF's balance-of-payments series for India, compiled by the RBI.

Rupees and dollars

DGCI&S publishes merchandise trade in both currencies and both are stored as published. The RBI's services figures are dollars only; their rupee values, and the rupee values of the goods-and-services totals, use the IMF's period-average exchange rate for the month, stored with the snapshot. Switching the currency filter never applies today's rate.

Shares of GDP

The annual balances in rupees are divided by nominal GDP from MoSPI's national accounts: the Economic Survey's tables on the 2011-12 base to FY 2024-25 and the RBI Handbook's Table 1 on the 2022-23 base from FY 2022-23. Each base is its own line; the overlap years show how much the base revision moves the ratio.

Not covered

A partner's trade by commodity (TradeStat's country-by-commodity report is a script-driven form that returns nothing to a plain request); quantities and unit values; state-wise or port-wise trade; the balance-of-payments goods figure, which is on the India balance of payments page. Nothing is estimated for a month TradeStat has not loaded yet: the Commerce ministry's press-release quick estimates for the latest month appear here only once DGCI&S loads them, about six weeks later.

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