India Balance of Trade

Last Release

May 31, 2025

Actual

-21.88

Units In

USD Million

-26.42

Frequency

Monthly

Next Release

Jul 15, 2025

Time to Release

27 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
0.79 Jun 2020	-37.84 Nov 2024	-3.94 USD Million	1957-2025	N/A

India has been recording sustained trade deficits since 1980 mainly due to the strong imports growth, particularly of mineral fuels, oils and waxes and bituminous substances and pearls, precious and semi-precious stones and jewelry. In recent years, the biggest trade deficits were recorded with China, Switzerland, Saudi Arabia, Iraq and Indonesia. India records trade surpluses with the US, United Arab Emirates, Hong Kong, United Kingdom and Vietnam.

Latest Updates

India recorded a trade deficit of $21.88 billion in May of 2025, remaining relatively stable following the $23.8 billion gap in the corresponding period of the previous year, to contrast sharply with swings in trade balances for other Asian economies amid constantly-changing tariff policies from the US. Imports inched lower by 1.7% to $60.61 billion, likely pressured by muted energy prices in the period, which account for a significant portion of foreign goods inflows to India. In turn, exports fell by 2.2% to $38.73 billion. Exports to the US since the start of the Fiscal Year in April were at $17.25 billion, up from $14.17 billion in the corresponding period of the previous year, suggesting that tariff threats from the US had a limited impact in trade flows.