The merchandise trade deficit in India was at $26.86 billion in August of 2026, remaining stable when compared to the $26.68 billion in the corresponding period of the previous year despite the turbulent macroeconomic backdrop in the September quarter. Imports rose by 14.7% annually to $70.67 billion, lifted by soaring energy costs that Indian importers face as the war in the Middle East and capacity cuts for Russian refiners hampered supply from importers. Meanwhile, exports rose by 25.5% to $43.81 billion. source: Ministry of Commerce and Industry, India

India recorded a trade deficit of 26.86 USD Billion in August of 2026. Balance of Trade in India averaged -4.36 USD Billion from 1957 until 2026, 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 September of 2026.

India recorded a trade deficit of 26.86 USD Billion in August of 2026. Balance of Trade in India is expected to be -29.50 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
2026-08-13 09:00 AM
Balance of Trade
Jul $-31.98B $-30.43B $-30.2B $-31.0B
2026-09-15 08:45 AM
Balance of Trade
Aug $-26.86B $-31.98B $-33.0B
2026-10-15 09:00 AM
Balance of Trade
Sep $-43.81B $ -29.5B


Related Last Previous Unit Reference
Balance of Trade -26.86 -31.98 USD Billion Aug 2026
Capital Flows 235.00 70.00 USD Million Jun 2026
Crude Oil Production 561.00 566.00 BBL/D/1K May 2026
Current Account -4219.00 6492.00 USD Million Jun 2026
Current Account to GDP -0.60 -0.60 percent of GDP Dec 2025
Exports 43.81 44.24 USD Billion Aug 2026
Exports by Category
Exports by Country
External Debt 762800.00 765500.00 USD Million Mar 2026
Foreign Direct Investment 9297.00 6068.00 USD Million Jun 2026
Gold Reserves 880.52 880.52 Tonnes Jun 2026
Imports 70.67 76.22 USD Billion Aug 2026
Imports by Category
Imports by Country
Remittances 30515.00 31068.00 USD Million Jun 2026
Terms of Trade 102.30 114.20 points Dec 2025
Terrorism Index 6.43 6.41 Points Dec 2025
Tourist Arrivals 584000.00 517000.00 Jun 2026
Weapons Sales 81.00 94.00 SIPRI TIV Million Dec 2025


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
-26.86 -31.98 0.71 -41.68 1957 - 2026 USD Billion Monthly
Current Prices, NSA

News Stream
Indian Trade Deficit Holds Despite Volatile Energy
The merchandise trade deficit in India was at $26.86 billion in August of 2026, remaining stable when compared to the $26.68 billion in the corresponding period of the previous year despite the turbulent macroeconomic backdrop in the September quarter. Imports rose by 14.7% annually to $70.67 billion, lifted by soaring energy costs that Indian importers face as the war in the Middle East and capacity cuts for Russian refiners hampered supply from importers. Meanwhile, exports rose by 25.5% to $43.81 billion.
2026-09-15
India Trade Gap Larger Than Anticipated
India’s trade deficit widened to $31.98 billion in July 2026, up from $27.5 billion in the same month of the previous year and surpassing market forecasts of $30.2 billion. It was the largest trade shortfall since January, as imports surged by 17.5% annually to an all-time high of $76.2 billion, partly reflecting higher oil, fuel, and coal prices amid fresh hostilities in the Middle East. Moreover, edible oil imports hit a 10-month high in July as refiners stocked up ahead of the August-November festival season, when demand usually peaks. Exports also advanced by a robust 19.6% to $44.2 billion, amid increased shipments of petroleum products, electronics, engineering goods, gems and jewellery, iron ore, meat, dairy and poultry products, and marine products.
2026-08-13
India Trade Gap Widens More than Expected
The Indian goods trade deficit widened to $30.43 billion in June of 2026 from $19.12 in the corresponding period of the previous year, above market expectations of a $26.5 billion gap. It was the widest deficit since January and the largest on record for the month of June. Imports surged by 31% to $70.84 billion, also the highest on record for the month, as the war in the Middle East and US tariffs aimed at preventing India from importing Russian oil lifted the price that India must pay for foreign energy. Imports rose despite the continuous pressure on the Indian rupee, which prevents a higher volume of foreign purchases. Meanwhile, exports rose by a softer 15.5% to $40.4 billion. Exports to the US were likely high, as the current trade deal between the US and India expires in July and risks higher levies for domestic manufacturers.
2026-07-13