India's trade deficit narrowed to USD 11.25 billion in December 2019 from USD 14.5 billion in the same month a year ago. It came below market expectations of a USD 11.8 billion gap. Imports fell 8.8 percent year-on-year to USD 38.61 billion, the 7th straight drop, mainly due to purchases of transport equipment (-31.1 percent), pearls, precious and semi-precious stones (-12 percent), gold (-3.9%), electronic goods (-1.4%) and oil (-0.8%). Exports fell 1.8 percent year-on-year to USD 27.36 billion, the 5th straight annual fall and despite increases in sales of electronic goods (30.4 percent), drugs & pharmaceuticals (13 percent), marine products (7.8 percent), ready made garments (2.4 percent) and cotton yard (0.4 percent). In April-December, the trade deficit narrowed sharply to USD 118.1 billion from USD 148.2 billion the same period in the previous fiscal year.

Balance of Trade in India averaged -2695.29 USD Million from 1957 until 2019, reaching an all time high of 258.90 USD Million in March of 1977 and a record low of -20210.90 USD Million in October of 2012. This page provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Ministry of Commerce and Industry, India

Balance of Trade in India is expected to be -17000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in India to stand at -14100.00 in 12 months time. In the long-term, the India Balance of Trade is projected to trend around -10200.00 USD Million in 2020, according to our econometric models.


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India Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-11250.00 -12120.00 258.90 -20210.90 1957 - 2019 USD Million Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-15 01:30 PM Sep $-10.86B $-13.45B $-12.85B $-12.5B
2019-11-15 12:50 PM Oct $-11.01B $-10.86B $-12.05B $-12.6B
2019-12-13 12:30 PM Nov $-12.12B $-11.01B $-12.3B $-14.4B
2020-01-15 01:00 PM Dec $-11.25B $-12.12B $-11.80B $-10.8B
2020-02-14 12:45 PM Jan $-11.25B $-15.1B


News Stream
2019-12-13
India Trade Deficit Narrows as Imports Plunge
India's trade deficit narrowed to USD 12.12 billion in November 2019 from USD 17.58 billion in the same month a year ago, as imports slumped 12.71 percent to USD 38.11 billion dragged by transport equipment (-48.53 percent), coal, coke & briquettes (-23.21 percent), organic & inorganic chemicals (-21.07 percent), petroleum, crude & products (-18.17 percent), electronic goods (-3.98 percent). Meanwhile, exports fell 0.34 percent to USD 25.98 billion, despite increases in sales of electronic goods (46.13 percent), drugs & pharmaceuticals (20.60 percent), marine products (9.03 percent), engineering goods (6.32 percent), and organic & inorganic chemicals (2.55 percent). In April-November, the trade deficit narrowed sharply to USD 106.84 billion from USD 133.74 billion to the same period in the previous fiscal year.

2019-11-15
India Trade Deficit Falls in October
The trade gap in India narrowed to USD 11.01 billion in October of 2019 from an upwardly revised USD 18 billion gap a year earlier and below market forecasts of USD 12.05 billion. Imports slumped 16.3% year-on-year to USD 37.39 billion, mainly due to lower purchases of petroleum and crude products (-31.7%); electronic goods (-8.5%); machinery (-0.5%); and transport equipment (-14.7%). On the other hand, imports increased for gold (4.7%). Exports declined 1.1% year-on-year to USD 26.38 billion, mainly due to lower shipments of petroleum products (-14.6%); RMG of all textiles (-2.1%); cotton yarn and products (-6.1%); and plastic and linoleum (-11%). On the other hand, sales went up for engineering goods (1.2%); gems and jewellery (6%); chemicals (0.9%); drugs and pharmaceuticals (12.6%); and electronic goods (38.4%). Considering April-October 2019-20, the trade gap fell to USD 94.72 billion from USD 116.15 billion in the same period of the previous fiscal year.

2019-10-15
India Trade Deficit Narrows to 7-Month Low
India's trade deficit narrowed to USD 10.86 billion in September 2019 from USD 14.95 billion in the corresponding month of 2018 and below market consensus of USD 12.85 billion. Merchandise exports dropped 6.57 percent to USD 26.03 billion, mostly due to lower sales of gems & jewellery (-5.56%); engineering goods (-6.2%) and petroleum products(-18.6%). In contrast, major commodity groups posted positive growth: electronic goods (33.11%); spices (28.44%); mica, coal & other ores, minerals (16.67%); and ceramic products & glassware (11.1%). Meantime, imports fell 13.85 percent to USD 36.89 billion, as purchases went down for coal, coke & briquettes (-23.96%); petroleum, crude & products (-18.33%); pearls, precious & semi-precious stones (-17.34%) and organic & inorganic chemicals (-16.21%). Considering April-September 2019-20, the trade gap fell to USD 44.95 billion from USD 60.16 billion in the same period of the previous fiscal year.

2019-09-13
India Trade Gap Narrows as Exports, Imports Fall
India's trade deficit narrowed to USD 13.45 billion in August 2019 from USD 17.92 billion in the same month last year and below market expectations of USD 13.60 billion. Merchandise exports fell 6.05 percent to USD 26.13 billion, due mainly to a 12.29 percent slump in sales of gems and jewellery. Meanwhile, major commodity groups posted positive growth: iron ore (356.66 percent); electronic goods (45.89 percent); spices (35.35 percent); marine products (5.28 percent); and mica, coal & other ores, minerals (2.24 percent). Meanwhile, imports tumbled 13.45 percent to USD 39.58 billion as purchases fell for coal, coke & briquettes (-23.75 percent), organic & inorganic chemicals (-14.95 percent), petroleum, crude & products (-8.90 percent), machinery, electrical & non-electrical (-8.80 percent) and electronic goods (-4.12 percent). Considering April-August 2019-20, the trade deficit narrowed to USD 72.85 billion from USD 83.19 billion in the same period of the previous fiscal year.

2019-08-14
India Trade Gap Narrows in July
India's trade deficit narrowed to USD 13.43 billion in July 2019 from USD 18.63 billion in the same month last year and below market expectations of USD 15.70 billion. Merchandise exports rose 2.25 percent to USD 26.33 billion, led by increases in sales of electronic goods (51.39 percent), drugs & pharmaceuticals (21.74 percent), organic & inorganic chemicals (13.45 percent), RMG of all textiles (7.06 percent), and marine products (3.30 percent). Meanwhile, imports were down 10.43 percent to USD 39.76 billion as purchases fell for pearls, precious & semi-precious stones (-31.02 percent), petroleum, crude & products (-22.15 percent), organic & inorganic chemicals (-7.01 percent), electronic goods (-1.70 percent), and coal, coke & briquettes (-0.54 percent). Considering April-July 2019-20, the trade deficit narrowed to USD 59.39 billion from USD 65.27 billion in the same period of the previous fiscal year.

2019-07-15
India Trade Gap Narrows as Exports, Imports Drop
India's trade deficit narrowed to USD 15.28 billion in June 2019 from USD 16.60 billion in the same month last year and below market expectations of USD 15.64 billion. Merchandise exports plunged 9.71 percent to USD 25.01 billion, led by decreases in sales of petroleum products (-32.85 percent), gems, jewellery (-10.67 percent), rice (-28.05 percent), and engineering goods (-2.65 percent). Meanwhile, imports were down 9.06 percent to USD 40.29 billion as purchases fell for pearls, precious & semi-precious stones (-23.64 percent), petroleum products (-13.33 percent), machinery, electrical & non-electrical (-9.03 percent), coal, coke & briquettes (-3.44 percent), and electronic goods (-1.66 percent). Considering April-June 2019-20, the trade deficit widened to USD 45.96 billion from USD 44.94 billion in the same period of the previous fiscal year.


India Balance of Trade
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.

India Trade Last Previous Highest Lowest Unit
Balance of Trade -11250.00 -12120.00 258.90 -20210.90 USD Million [+]
Current Account -6253.68 -14180.72 7360.00 -31857.18 USD Million [+]
Current Account to GDP -2.30 -1.90 2.30 -4.80 percent [+]
Imports 38610.00 38110.00 45730.00 117.40 USD Million [+]
Exports 27360.00 25980.00 32550.00 59.01 USD Million [+]
External Debt 557519.00 557057.00 557519.00 96392.00 USD Million [+]
Terms of Trade 73.30 71.10 100.00 57.90 points [+]
Capital Flows -96.61 -818.79 766.97 -818.79 USD Million [+]
Foreign Direct Investment 1175.00 2155.00 8569.00 -1336.00 USD Million [+]
Remittances 16373.32 14641.80 16373.32 5999.10 USD Million [+]
Tourist Arrivals 1091946.00 944233.00 1191147.00 129286.00 [+]
Gold Reserves 618.16 618.16 618.16 357.75 Tonnes [+]
Crude Oil Production 658.00 662.00 813.00 526.00 BBL/D/1K [+]
Terrorism Index 7.52 7.57 8.09 7.22 [+]
Weapons Sales 46.00 56.00 56.00 0.00 USD Million [+]