India's trade deficit narrowed sharply to USD 6.77 billion in August of 2020 from USD 13.86 billion in the same month last year, in line with market forecasts of USD 6.75 billion, amid a prolonged coronavirus lockdown. Exports sank 12.7% to USD 22.7 billion, with sales declining the most for cashew (-47.61%); gems & jewellery (-43.28%); and petroleum products). Imports went down 26% to USD 29.47 billion, mainly due to petroleum and crude (-41.62%) and machinery (-41.58%). Considering April to August, the trade gap declined to USD 20.72 billion from USD 77.25 billion a year earlier. Exports were down 26.65% and imports plunged 43.73%.

Balance of Trade in India averaged -2742.71 USD Million from 1957 until 2020, 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 September of 2020. source: Ministry of Commerce and Industry, India

Balance of Trade in India is expected to be -13200.00 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 -3100.00 in 12 months time. In the long-term, the India Balance of Trade is projected to trend around -14100.00 USD Million in 2021 and -6200.00 USD Million in 2022, according to our econometric models.

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India Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-6770.00 -4830.00 790.00 -20210.90 1957 - 2020 USD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-15 12:20 PM May $-3.15B $-6.76B $-7B $-8.9B
2020-07-15 12:20 PM Jun $0.79B $-3.15B $-4.50B $-5.1B
2020-08-14 12:20 PM Jul $-4.83B $0.79B $-2B $-2.6B
2020-09-15 12:20 PM Aug $-6.77B $-4.83B $-6.75B $-6B
2020-10-15 01:30 PM Sep $-6.77B $ -13.2B
2020-11-13 12:50 PM Oct
2020-12-15 12:00 PM Nov


News Stream
India Trade Gap Halved in August
India's trade deficit narrowed sharply to USD 6.77 billion in August of 2020 from USD 13.86 billion in the same month last year, in line with market forecasts of USD 6.75 billion, amid a prolonged coronavirus lockdown. Exports sank 12.7% to USD 22.7 billion, with sales declining the most for cashew (-47.61%); gems & jewellery (-43.28%); and petroleum products). Imports went down 26% to USD 29.47 billion, mainly due to petroleum and crude (-41.62%) and machinery (-41.58%). Considering April to August, the trade gap declined to USD 20.72 billion from USD 77.25 billion a year earlier. Exports were down 26.65% and imports plunged 43.73%.
2020-09-15
India Trade Deficit Narrows in July
India's trade deficit narrowed to USD 4.83 billion in July 2020 from USD 1343 billion in the same month last year and compared to market expectations of USD 2.0 billion. Exports declined 10.21 percent led by sales of petroleum products (-51.54 percent), gems & jewelry (-49.61 percent), leather & leather products (-26.96 percent), man-made yarn & fabrics (-23.33 percent), RMG of all textiles (-22.09 percent). At the same time, imports plunged 28.40 percent as purchases were down for coal, coke & briquettes (-53.76 percent), machinery, electrical & non-electrical (-32.89 percent), petroleum, crude & products (-31.97 percent), organic & inorganic chemicals (-12.22 percent) and electronic goods (-4.31 percent). Considering April to July, the trade gap narrowed to USD 13.95 billion from USD 59.39 billion in the same period of the previous fiscal year.
2020-08-14
India Posts Largest Trade Surplus on Record
India posted a USD 0.79 billion trade surplus in June 2020, the largest on record and first since 2002, compared with market expectations of a USD 4.50 billion deficit, as imports tumbled much more than exports amid subdued demand due to the coronavirus crisis. Imports was down 47.59 percent with the biggest decreases reported for: gold (-77.42 percent), coal, coke & briquettes (-55.72 percent), petroleum, crude & products (-55.29 percent), machinery, electrical & non-electrical (-42.02 percent) and electronic goods (-34.05 percent). Meanwhile, exports fell at a slower 12.41 percent led by lower sales of gems & jewelry (-50.06 percent), leather & leather products (-40.47 percent), RMG of all textiles (-34.84 percent), man-made yarn, fabrics (-31.98 percent) and petroleum products (-31.65 percent). Considering the April to June period, the trade deficit narrowed sharply to USD 9.12 billion from USD 45.96 billion in the same period of the previous fiscal year.
2020-07-15
India Trade Deficit Smallest in 11 Years
India's trade deficit narrowed sharply to USD 3.15 billion in May 2020 from USD 15.36 billion in the same month last year and below market expectations of USD 7.0 billion. It was the smallest trade gap since February 2009, as the coronavirus pandemic hit global demand. Exports plunged 36.47 percent, mainly due to lower sales of gems & jewelry (-68.83 percent), petroleum products (-68.46 percent), engineering goods (-24.25 percent), electronic goods (-45.35 percent), and organic & inorganic chemicals (-12.71 percent). Imports slumped 51.05 percent, due to lower purchases of gold (-98.40 percent); petroleum, crude & products (-71.98 percent); coal, coke & briquettes (-44.93 percent); electronic goods (-40.32 percent); and machinery, electrical & non-electrical (-34.37 percent). Considering the first two months of the 2020-21 fiscal year, the trade gap shrank to USD 9.91 billion from USD 30.69 billion in the same period of the previous year.
2020-06-15

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.