Latest reading: In August, the trade balance was USD +119.1 billion, following a USD +112.3 billion figure in the prior...
Merchandise Trade Balance in India
The merchandise trade balance in India averaged USD -178 billion in the decade to 2024. The 2024 reading was USD -283 billion. For more information on trade, visit our dedicated page.
India Trade Chart
Note: This chart displays Trade Balance (USD billion) for India from 2014 to 2025.
Source: Macrobond.
India Trade Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -191 | -265 | -237 | -283 | -333 |
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 trade 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 trade forecast available for Indian trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian trade projections.
Want to get access to the full dataset of Indian trade forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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China: Merchandise trade surplus increases in August -
Brazil: Merchandise trade surplus increases in August Latest reading: In August, the trade balance was USD +7.4 billion, following a USD +6.6 billion reading in the prior... -
Vietnam: Merchandise trade deficit shrinks in August Latest reading: In August, the trade balance was USD -0.1 billion, following a USD -3.6 billion reading in the prior... -
Korea: Merchandise trade surplus widens in August Latest reading: In August, the trade balance was USD +34.7 billion, following a USD +30.4 billion reading in the prior... -
Thailand: Merchandise trade records zero deficit in July Latest reading: In July, the trade balance was USD 0.0 billion, following a USD -2.7 billion reading in the prior... -
Mexico: Merchandise trade slips into deficit in July Latest reading: In July, the trade balance was USD -0.8 billion, following a USD +4.1 billion figure in the prior... -
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