Latest reading: In July, the trade balance was USD +112.5 billion, below the USD +125.6 billion figure in the previous...
Merchandise Imports in India
Merchandise imports in India were worth USD 720 billion in 2024, compared to USD 448 billion ten years earlier, and they averaged USD 526 billion over the last decade. For more information on imports, visit our dedicated page.
India Merchandise Imports Chart
Note: This chart displays Imports (USD billion) for India from 2014 to 2025.
Source: Macrobond.
India Merchandise Imports Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Imports (USD bn) | 613 | 716 | 674 | 721 | 775 |
| Merchandise Imports (ann. var. %) | 55.4 | 16.8 | -5.9 | 7.0 | 7.5 |
Merchandise trade deficit increases in June
Latest reading: In June, the trade balance was USD -30.4 billion, following a USD -28.3 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD -351.4 billion. Merchandise exports rose 15.5% in annual terms in June, following a 17.9% increase in the previous month. Merchandise imports increased 31.0% in year-on-year terms in June, coming on the back of 20.6% growth in the previous month. June's reading was the strongest since August 2022.
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 imports projections for the next ten years from a panel of 8 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 imports forecast available for Indian merchandise imports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian merchandise imports projections.
Want to get access to the full dataset of Indian merchandise imports forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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