India's trade deficit in goods widened to USD 15.1 billion in April 2021, from USD 6.76 billion in the same period last year, as both domestic and foreign demand rebounded from last year's record declines. In April 2020, the country was under a strict national lockdown to curb the spread of the coronavirus. Exports surged 195.72 percent to USD 30.63 billion, boosted by sales of gems & jewelry, jute manufacturing including floor covering, carpet, handicrafts excluding handmade carpet, and leather & leather products, among others. Imports jumped 167.05 percent to USD 45.72 billion, as purchases of both oil and non-oil products rose sharply. source: Ministry of Commerce and Industry, India
Balance of Trade in India averaged -2839.24 USD Million from 1957 until 2021, 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 May of 2021.
Balance of Trade in India is expected to be -12100.00 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 -12000.00 in 12 months time. In the long-term, the India Balance of Trade is projected to trend around -7200.00 USD Million in 2022 and -10600.00 USD Million in 2023, according to our econometric models.