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.