India's trade deficit was revised lower to USD 21.68 billion in December, compared to a preliminary estimate of USD 21.99 billion and a USD 15.72 billion a year earlier. Imports jumped 38.55 percent year-on-year to a record high of USD 59.48 billion mostly due to increase in purchases of silver (2133.30%); sulphur and unroasted iron pyrites (255.26%); and fertilizers, crude and manufactured (170.73%). Meanwhile, exports surged by 38.91 percent to an all-time high of USD 37.81 billion, mainly driven by sales of petroleum products (151.97 %); coffee (123.80%); and mica, coal and other ores, minerals including processed minerals (59.97%). On the downside, sales fell for iron ore (-85.76%); oil meals (-49.45%); cashew (-25.24%); spices (-8.85%); and tea (-7.82%). During the April-December period of 2021, the trade gap widened to USD 142.44 billion, compared to USD 61.38 billion in the same period of the previous year. source: Ministry of Commerce and Industry, India

Balance of Trade in India averaged -2.97 USD Billion from 1957 until 2021, reaching an all time high of 0.79 USD Billion in June of 2020 and a record low of -22.91 USD Billion in November of 2021. 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 2022.

Balance of Trade in India is expected to be -17.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Balance of Trade is projected to trend around -9.60 USD Billion in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
India Balance of Trade


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.
Actual Previous Highest Lowest Dates Unit Frequency
-21.68 -22.91 0.79 -22.91 1957 - 2021 USD Billion Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2022-01-03 12:30 PM Balance of Trade Prel Dec $-21.99B $-22.91B $ -18.3B
2022-01-13 03:00 PM Balance of Trade Final Dec $-21.68B $-22.91B $-21.99B $-21.99B
2022-02-02 12:30 PM Balance of Trade Prel Jan $-21.68B $-21.4B


Related Last Previous Unit Reference
Balance of Trade -21.68 -22.91 USD Billion Dec/21
Imports 59.48 52.94 USD Billion Dec/21
Exports 37.81 30.04 USD Billion Dec/21


News Stream
India December Trade Deficit Widens, Both Exports and Imports at Record High
India's trade deficit was revised lower to USD 21.68 billion in December, compared to a preliminary estimate of USD 21.99 billion and a USD 15.72 billion a year earlier. Imports jumped 38.55 percent year-on-year to a record high of USD 59.48 billion mostly due to increase in purchases of silver (2133.30%); sulphur and unroasted iron pyrites (255.26%); and fertilizers, crude and manufactured (170.73%). Meanwhile, exports surged by 38.91 percent to an all-time high of USD 37.81 billion, mainly driven by sales of petroleum products (151.97 %); coffee (123.80%); and mica, coal and other ores, minerals including processed minerals (59.97%). On the downside, sales fell for iron ore (-85.76%); oil meals (-49.45%); cashew (-25.24%); spices (-8.85%); and tea (-7.82%). During the April-December period of 2021, the trade gap widened to USD 142.44 billion, compared to USD 61.38 billion in the same period of the previous year.
2022-01-13
India Trade Gap Widens in December
India's trade deficit widened sharply to USD 22 billion in December of 2021, a preliminary estimate showed. Imports jumped 39.2 percent year-on-year to a record high of USD 37.3 billion while exports jumped at a softer 37.3 percent to USD 59.3 billion. Considering the April-December period of 2021, the trade deficit stood at USD 143.97 billion.
2022-01-03
India Trade Gap Widens in November
India's trade deficit was revised lower to USD 22.9 billion in November, compared to a preliminary estimate of USD 23.3 billion and a USD 10.2 billion a year earlier. Imports jumped 56.6 percent year-on-year to USD 52.9 billion mostly due to increase in purchases of silver (2538%), Sulphur and unroasted Iron Pyrites (414%); and Coal, Coke and Briquettes (136%). Meanwhile, exports surged at a softer 27.2 percent to USD 30.04 billion, mainly driven by sales of petroleum products (154 %), coffee (67%), plastic and linoleum (43%) and cotton and handloom products (41%). On the downside, sales fell for iron ore (-93%), oil meals (-26%), tobacco (-18%), tea (-13%) and oilseeds (-12%). During the April-November period of 2021, the trade gap widened to USD 120.76 billion, compared to USD 45.66 billion in the same period of the previous year.
2021-12-14