India's trade deficit narrowed to USD 10.86 billion in September 2019 from USD 14.95 billion in the corresponding month of 2018 and below market consensus of USD 12.85 billion. Merchandise exports dropped 6.57 percent to USD 26.03 billion, mostly due to lower sales of gems & jewellery (-5.56%); engineering goods (-6.2%) and petroleum products(-18.6%). In contrast, major commodity groups posted positive growth: electronic goods (33.11%); spices (28.44%); mica, coal & other ores, minerals (16.67%); and ceramic products & glassware (11.1%). Meantime, imports fell 13.85 percent to USD 36.89 billion, as purchases went down for coal, coke & briquettes (-23.96%); petroleum, crude & products (-18.33%); pearls, precious & semi-precious stones (-17.34%) and organic & inorganic chemicals (-16.21%). Considering April-September 2019-20, the trade gap fell to USD 44.95 billion from USD 60.16 billion in the same period of the previous fiscal year. Balance of Trade in India averaged -2645.81 USD Million from 1957 until 2019, reaching an all time high of 258.90 USD Million in March of 1977 and a record low of -20210.90 USD Million in October of 2012.

Balance of Trade in India is expected to be -15500.00 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 -16200.00 in 12 months time. In the long-term, the India Balance of Trade is projected to trend around -14100.00 USD Million in 2020, according to our econometric models.

India Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-15 02:00 PM Balance of Trade Jun $-15.28B $-15.36B $-15.64B $-16.5B
2019-08-14 01:10 PM Balance of Trade Jul $-13.43B $-15.36B $-15.70B $-17.4B
2019-09-13 01:15 PM Balance of Trade Aug $-13.45B $-13.43B $-13.60B $-13.2B
2019-10-15 01:30 PM Balance of Trade Sep $-10.86B $-13.45B $-12.85B $-12.5B
2019-11-15 12:00 PM Balance of Trade Oct $-10.86B $-15.9B
2019-12-14 12:00 PM Balance of Trade Nov $-14.4B


India Trade Last Previous Highest Lowest Unit
Balance of Trade -10860.00 -13450.00 258.90 -20210.90 USD Million [+]
Current Account -14315.70 -4628.37 7360.00 -31857.18 USD Million [+]
Current Account to GDP -2.30 -1.90 2.30 -4.80 percent [+]
Imports 36890.00 39580.00 45730.00 117.40 USD Million [+]
Exports 26030.00 26130.00 32550.00 59.01 USD Million [+]
External Debt 557400.00 543300.00 557400.00 96392.00 USD Million [+]
Terms of Trade 73.30 71.10 100.00 57.90 Index Points [+]
Capital Flows -823.59 -83.26 766.97 -823.59 USD Million [+]
Foreign Direct Investment 1824.00 3812.00 8569.00 -1336.00 USD Million [+]
Remittances 14641.80 12616.91 14641.80 5999.10 USD Million [+]
Tourist Arrivals 798587.00 817455.00 1191147.00 129286.00 [+]
Gold Reserves 618.16 618.16 618.16 357.75 Tonnes [+]
Crude Oil Production 669.00 674.00 813.00 526.00 BBL/D/1K [+]
Terrorism Index 7.57 7.53 8.09 7.22 [+]
Weapons Sales 46.00 56.00 56.00 0.00 USD Million [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-10860.00 -13450.00 258.90 -20210.90 1957 - 2019 USD Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 1168.00 Aug/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 14702.40 Aug/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -10860.00 Sep/19
Indonesia -160.50 Sep/19
Italy 2585.00 Aug/19
Japan -136.30 Aug/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3833.90 Sep/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -2490000.00 Jul/19
Switzerland 2881.00 Sep/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19


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