The trade deficit in India was revised lower to USD 15.44 billion in December of 2020 from a preliminary estimate of a USD 15.71 billion gap. Still, it remains the biggest trade deficit since November of 2018 as exports edged up 0.1% to USD 27.2 billion and imports jumped 7.6% to USD 42.6 billion. Sales increased mainly for cereals (278.23%), oil meals (196.92%), iron ore (69.26%) and cereal preparations (47.14%) and fell for petroleum products (-35.35%), oil seeds (-31.62%), leather (-17.73%) and coffee (-16.38%). Imports increased mainly due to pulses (257%), gold (88%) and chemicals (46%). Considering the April to December period, the trade gap narrowed sharply to USD 57.5 billion from USD 126 billion in the same period in 2019. source: Ministry of Commerce and Industry, India

Balance of Trade in India averaged -2780 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 January of 2021.

Balance of Trade in India is expected to be -9200.00 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 -7200.00 USD Million in 2022, according to our econometric models.

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India Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-15440.00 -9870.00 790.00 -20210.90 1957 - 2020 USD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-02 03:30 PM Balance of Trade Prel Nov $-9.96B $-8.71B
2020-12-15 12:40 PM Balance of Trade Final Nov $-9.87B $-8.71B $-9.96B $-9.96B
2021-01-04 12:20 PM Balance of Trade Prel Dec $-15.71B $-9.87B $-8.2B
2021-01-15 12:30 PM Balance of Trade Final Dec $-15.44B $-9.87B $-15.70B $-15.71B
2021-02-01 12:20 PM Balance of Trade Prel Dec $-15.44B $-12B
2021-02-15 12:20 PM Balance of Trade Final Jan $-15.44B
2021-03-15 12:20 PM Balance of Trade Feb
2021-04-15 12:20 PM Balance of Trade Mar $ -9.2B


News Stream
India Trade Gap Remains Highest in 2 Years
The trade deficit in India was revised slightly lower to USD 15.44 billion in December of 2020 from a preliminary estimate of a USD 15.71 billion gap. Still, it is the biggest trade deficit since November of 2018 as exports edged up 0.1% to USD 27.2 billion and imports jumped 7.6% to USD 42.6 billion. Sales increased mainly for cereals (278.23%), oil meals (196.92%), iron ore (69.26%) and cereal preparations (47.14%) and fell for petroleum products (-35.35%), oil seeds (-31.62%), leather (-17.73%) and coffee (-16.38%). Imports increased mainly due to pulses (257%), gold (88%) and chemicals (46%). Considering the April to December period, the trade gap narrowed sharply to USD 57.5 billion from USD 126 billion in the same period in 2019.
2021-01-15
India Trade Gap Highest in 2 Years
The trade deficit in India widened to USD 15.71 billion in December of 2020 from USD 12.48 billion a year earlier, preliminary estimates showed. It is the biggest trade gap since November of 2018 as exports went down 0.8% to USD 26.89 billion and imports jumped 7.6% to USD 42.6 billion, the highest since May of 2019. Sales declined for petroleum products (-40.47%); oil seeds (-31.8%); leather (-17.74%); coffee (-16.39%); ready-made-garments (-15.07%); marine products (-14.27%); cashew (-12.04%); plastic and linoleum (-7.43%) and tobacco (-4.95%). Imports increased mostly for pulses (245.15%); gold (81.82%); vegetable oil (43.50%); chemical material & products (41.51%).
2021-01-04
India Trade Gap Revised Slightly Lower
India trade deficit was revised slightly lower to $9.87 billion in November of 2020 compared to an initial estimate of $9.96 billion. Exports went down 8.74% to $23.52 billion, mostly due to petroleum products (-59.73%); leather (-29.8%); cashew (-24.53%); plastic & linoleum (-23.26%); marine products (-16.1%); oil seeds (-15.2%); engineering goods (-8.12%); organic & inorganic chemicals (-8.06%); coffee (-1.27%) and ready-made garments of all textiles (-1.19%). Imports fell 13.32% to $33.39 billion, mainly due to petroleum crude (-43.4%); transport equipment (-19.6%); machinery (-13.4%); coal, coke and briquettes (-12.2%); and pearls, precious and semi-precious stones (-7.2%). Considering the April to October period, the trade gap narrowed sharply to USD 42 trillion from USD 113.42 trillion in the same period in 2019.
2020-12-15
India Trade Gap Continues to Narrow
India recorded a trade deficit of USD 8.78 billion in October of 2020, below USD 11.76 billion a year earlier, preliminary estimates showed. Exports fell 5.4 percent to USD 24.82 billion, following a 6 percent jump in September while imports dropped 11.56 percent to USD 33.6 billion, after a 19.6 percent plunge in September.
2020-11-03

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.