India's trade gap widened to $13.93 billion in March of 2021 from $9.98 billion a year earlier, and compared to preliminary estimates of a higher $14.11 billion gap. Exports soared 60.3% to a record high of $34.5 billion, with major increases seen in sales of other cereals (326%); oil meals (230%); iron ore (194%); jute manufactured (105%); electronic goods (92%); carpet (90%); gems & jewellery (79%); engineering goods (71%); cereal preparations (68%) and rice (67%). It compares with preliminary estimates of $34 billion. Imports were unrevised at $48.38 billion, also a record high, mainly due to higher international oil prices. source: Ministry of Commerce and Industry, India
Balance of Trade in India averaged -2823.34 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 April 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.