The merchandise trade balance in India widened to $25 billion in December of 2025 from $20.6 billion in the corresponding period of the previous year, marking the sharpest trade gap for the month on record. Imports rose by 8.8% from the previous year to $63.6 billion despite a week rupee and the decline in global energy benchmarks in the period, which make up a large portion of Indian imports, although pressure from the US to temper Indian purchases of Russian oil likely increased the energy input costs for refiners. In the meantime, exports grew a softer 1.8% to $38.5 billion. Foreign sales for selected industries were under pressure from 50% tariffs by the US, with India among the only major economies that have not secured a trade deal with the White House. source: Ministry of Commerce and Industry, India

India recorded a trade deficit of 25.04 USD Billion in December of 2025. Balance of Trade in India averaged -4.13 USD Billion from 1957 until 2025, reaching an all time high of 0.71 USD Billion in June of 2020 and a record low of -41.68 USD Billion in October of 2025. 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 February of 2026.

India recorded a trade deficit of 25.04 USD Billion in December of 2025. Balance of Trade in India is expected to be -27.00 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 -32.00 USD Billion in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-15 07:50 AM
Balance of Trade
Nov $-24.53B $-41.68B $-30.0B
2026-01-15 08:30 AM
Balance of Trade
Dec $-25.04B $-24.53B $ -30B
2026-02-16 09:00 AM
Balance of Trade
Jan $-25.04B $-27.0B


Related Last Previous Unit Reference
Balance of Trade -25.04 -24.53 USD Billion Dec 2025
Capital Flows -157.00 -400.00 USD Million Sep 2025
Crude Oil Production 579.00 610.00 BBL/D/1K Sep 2025
Current Account -12292.00 -2722.00 USD Million Sep 2025
Current Account to GDP -0.60 -0.70 percent of GDP Dec 2024
Exports 38.51 38.13 USD Billion Dec 2025
Exports by Category
Exports by Country
External Debt 746000.00 747200.00 USD Million Sep 2025
Foreign Direct Investment 1065.00 1542.00 USD Million Nov 2025
Gold Reserves 880.18 880.18 Tonnes Dec 2025
Imports 63.55 62.66 USD Billion Dec 2025
Imports by Category
Imports by Country
Remittances 28547.00 24624.00 USD Million Sep 2025
Terms of Trade 147.30 147.00 points Dec 2024
Terrorism Index 6.41 6.32 Points Dec 2024
Tourist Arrivals 626000.00 742000.00 Apr 2025
Weapons Sales 25.00 41.00 SIPRI TIV Million Dec 2024


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
-25.04 -24.53 0.71 -41.68 1957 - 2025 USD Billion Monthly
Current Prices, NSA

News Stream
India to Slash Car Tariffs to 40% in EU Trade Pact
India will cut tariffs on European Union car imports to 40% from levels as high as 110%, Reuters reported. Prime Minister Narendra Modi’s government has agreed to immediately lower duties on select vehicles priced above EUR 15,000, with rates set to fall further to 10% over time, easing entry for automakers like Volkswagen, Mercedes-Benz and BMW. The move comes as India and the EU prepare to announce the conclusion of long-running free trade negotiations on Tuesday, with officials calling it “the mother of all deals.” Once finalized and ratified, the agreement is expected to expand bilateral trade and boost Indian exports of goods such as textiles and jewellery, which have faced 50% U.S. tariffs since late August.
2026-01-26
India Trade Deficit Widens in December
The merchandise trade balance in India widened to $25 billion in December of 2025 from $20.6 billion in the corresponding period of the previous year, marking the sharpest trade gap for the month on record. Imports rose by 8.8% from the previous year to $63.6 billion despite a week rupee and the decline in global energy benchmarks in the period, which make up a large portion of Indian imports, although pressure from the US to temper Indian purchases of Russian oil likely increased the energy input costs for refiners. In the meantime, exports grew a softer 1.8% to $38.5 billion. Foreign sales for selected industries were under pressure from 50% tariffs by the US, with India among the only major economies that have not secured a trade deal with the White House.
2026-01-15
India Trade Deficit Smallest in 5 Months
India’s trade deficit narrowed to USD 24.53 billion in November 2025 from USD 31.92 billion in the same month last year, according to preliminary estimates. This marked the smallest trade gap in five months, as exports surged 19.37% year-on-year to a six-month high of USD 38.13 billion, supported by government measures, including export incentives aimed at mitigating the economic impact of the 50% US tariffs imposed at the end of August. Exports to the US rose by USD 1.3 billion in November despite the tariffs, while shipments to China increased by USD 1 billion, with Spain, the UAE, and Tanzania also recording solid gains. Meanwhile, imports fell 1.88% to USD 62.66 billion, largely due to a sharp drop of around 60% in gold imports, alongside declines in oil and coal shipments. On a cumulative basis, exports increased 2.62% to USD 292.07 billion during April–November, while imports rose 5.59% to USD 515.21 billion over the same period a year earlier.
2025-12-15