India recorded a trade deficit of USD 2 .720 billion in September of 2020, lower than initial estimates of a USD 2.9 billion gap and well below a USD 11.67 billion shortfall a year earlier. Exports jumped 6 percent from a year earlier to USD 27.58 billion, following six months of declines and reaching the highest reading since February, before the coronavirus pandemic. Imports went down 19.6 percent to USD 30.3 billion also the highest value since the pandemic started but well below USD 37.5 billion in February. Considering the April to September period, the trade gap narrowed sharply to USD 20 trillion from USD 83.25 trillion in the same period in 2019.

Balance of Trade in India averaged -2743.74 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.

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India Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-2720.00 -6770.00 790.00 -20210.90 1957 - 2020 USD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-14 12:20 PM Balance of Trade Jul $-4.83B $0.79B $-2B $-2.6B
2020-09-15 12:20 PM Balance of Trade Aug $-6.77B $-4.83B $-6.75B $-6B
2020-10-02 10:30 AM Balance of Trade Prel Sep $-2.9B $-6.77B
2020-10-15 12:30 PM Balance of Trade Final Sep $ -2.72B $-6.77B $-3.3B $ -2.9B
2020-11-13 12:20 PM Balance of Trade Oct $ -2.72B
2020-12-15 12:20 PM Balance of Trade Nov


News Stream
India Trade Gap Revised Lower in September
India recorded a trade deficit of USD 2 .720 billion in September of 2020, lower than initial estimates of a USD 2.9 billion gap and well below a USD 11.67 billion shortfall a year earlier. Exports jumped 6 percent from a year earlier to USD 27.58 billion, following six months of declines and reaching the highest reading since February, before the coronavirus pandemic. Imports went down 19.6 percent to USD 30.3 billion also the highest value since the pandemic started but well below USD 37.5 billion in February. Considering the April to September period, the trade gap narrowed sharply to USD 20 trillion from USD 83.25 trillion in the same period in 2019.
2020-10-15
India Trade Deficit Narrows in September
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.
2020-10-02
India Trade Gap Halved in August
India's trade deficit narrowed sharply to USD 6.77 billion in August of 2020 from USD 13.86 billion in the same month last year, in line with market forecasts of USD 6.75 billion, amid a prolonged coronavirus lockdown. Exports sank 12.7% to USD 22.7 billion, with sales declining the most for cashew (-47.61%); gems & jewellery (-43.28%); and petroleum products). Imports went down 26% to USD 29.47 billion, mainly due to petroleum and crude (-41.62%) and machinery (-41.58%). Considering April to August, the trade gap declined to USD 20.72 billion from USD 77.25 billion a year earlier. Exports were down 26.65% and imports plunged 43.73%.
2020-09-15
India Trade Deficit Narrows in July
India's trade deficit narrowed to USD 4.83 billion in July 2020 from USD 1343 billion in the same month last year and compared to market expectations of USD 2.0 billion. Exports declined 10.21 percent led by sales of petroleum products (-51.54 percent), gems & jewelry (-49.61 percent), leather & leather products (-26.96 percent), man-made yarn & fabrics (-23.33 percent), RMG of all textiles (-22.09 percent). At the same time, imports plunged 28.40 percent as purchases were down for coal, coke & briquettes (-53.76 percent), machinery, electrical & non-electrical (-32.89 percent), petroleum, crude & products (-31.97 percent), organic & inorganic chemicals (-12.22 percent) and electronic goods (-4.31 percent). Considering April to July, the trade gap narrowed to USD 13.95 billion from USD 59.39 billion in the same period of the previous fiscal year.
2020-08-14

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.