Latest reading: In August, the trade balance was USD +119.1 billion, following a USD +112.3 billion figure in the prior...
Merchandise Exports in India
Merchandise exports were worth USD 437 billion in 2024 in India compared to USD 310 billion ten years earlier, and averaged USD 349 billion over the last decade. For more exports information, visit our dedicated page.
India Merchandise Exports Chart
Note: This chart displays Exports (USD billion) for India from 2014 to 2025.
Source: Macrobond.
India Merchandise Exports Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Exports (USD bn) | 422 | 451 | 437 | 438 | 442 |
| Merchandise Exports (ann. var. %) | 44.6 | 6.9 | -3.1 | 0.1 | 0.9 |
Merchandise trade deficit widens in July
Latest reading: In July, the trade balance was USD -32.0 billion, following a USD -30.4 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD -355.5 billion. Merchandise exports increased 19.4% in annual terms in July, following 15.5% growth in the previous month. July's reading was the strongest since June 2022. Merchandise imports were up 17.4% in year-on-year terms in July, following 31.0% growth in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indian merchandise exports projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Indian merchandise exports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian merchandise exports projections.
Want to get access to the full dataset of Indian merchandise exports forecasts? Send an email to info@focus-economics.com.
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