India's trade deficit narrowed sharply to USD 2.9 billion in September 2020 from USD 10.9 billion in the same period of the previous year, a preliminary estimate showed. Exports jumped 5.3 percent driven by sales of engineering goods, petroleum, pharmaceuticals and readymade garments. Meanwhile, imports slumped 19.6 percent.
Balance of Trade in India averaged -2742.92 USD Million from 1957 until 2020, reaching an all time high of 790 USD Million in June of 2020 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. India Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Ministry of Commerce and Industry, India
Balance of Trade in India is expected to be -8200.00 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 -11750.00 in 12 months time. In the long-term, the India Balance of Trade is projected to trend around -7300.00 USD Million in 2021 and -7200.00 USD Million in 2022, according to our econometric models.