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.