India's trade deficit was revised lower to USD 22.59 billion in September, compared to a preliminary estimate of USD 22.94 billion and a USD 2.72 billion gap a year earlier. Still, it was the biggest trade deficit on record as imports grew much faster than exports. Imports surged 84.77 percent to USD 56.39 billion, mostly due to purchases of crude oil (199.3 percent), as oil prices roughly doubled in the last 12 months. Meanwhile, exports rose at a much slower 22.63 percent to USD 33.79 billion, mainly driven by sales of coffee (62.6 percent); cashew (49.4 percent); petroleum products (47.9 percent); cotton & handloom products (40.5 percent); engineering goods (36.8 percent); and organic & inorganic chemicals (29.7 percent). On the downside, sales fell significantly for Iron ore (-72.8 percent) and oil meals (-39.1 percent). During the April-September period of 2021, the trade deficit widened to US 78.13 billion, compared to USD 26.31 billion in the same period of the previous year. source: Ministry of Commerce and Industry, India

Balance of Trade in India averaged -2903.97 USD Million from 1957 until 2021, reaching an all time high of 790 USD Million in June of 2020 and a record low of -22600 USD Million in September 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 October of 2021.

Balance of Trade in India is expected to be -12300.00 USD Million 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 -7200.00 USD Million in 2022 and -9600.00 USD Million in 2023, according to our econometric models.

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India Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-09-02 11:20 AM Balance of Trade Prel Aug $-13.87B $-10.97B $-9B
2021-09-14 01:20 PM Balance of Trade Final Aug $-13.81B $-10.97B $-13.89B $-13.87B
2021-10-01 02:20 PM Balance of Trade Prel Sep $-22.94B $-13.81B $ -7.2B
2021-10-14 12:00 PM Balance of Trade Final Sep $-22.6B $-13.81B $-22.90B $-22.94B
2021-11-15 12:20 PM Balance of Trade Oct $-22.6B
2021-12-15 12:20 PM Balance of Trade Nov


News Stream
India Posts Record Trade Deficit
India's trade deficit was revised lower to USD 22.59 billion in September, compared to a preliminary estimate of USD 22.94 billion and a USD 2.72 billion gap a year earlier. Still, it was the biggest trade deficit on record as imports grew much faster than exports. Imports surged 84.77 percent to USD 56.39 billion, mostly due to purchases of crude oil (199.3 percent), as oil prices roughly doubled in the last 12 months. Meanwhile, exports rose at a much slower 22.63 percent to USD 33.79 billion, mainly driven by sales of coffee (62.6 percent); cashew (49.4 percent); petroleum products (47.9 percent); cotton & handloom products (40.5 percent); engineering goods (36.8 percent); and organic & inorganic chemicals (29.7 percent). On the downside, sales fell significantly for Iron ore (-72.8 percent) and oil meals (-39.1 percent). During the April-September period of 2021, the trade deficit widened to US 78.13 billion, compared to USD 26.31 billion in the same period of the previous year.
2021-10-14
India’s September Trade Deficit at Record High
India’s trade deficit widened to USD 22.94 billion in September of 2021, from USD 2.72 billion in the same period last year, a preliminary estimate showed. It was the largest trade gap on record, as imports jumped 86 percent to USD 56.38 billion and exports rose at a softer 21.3 percent to USD 33.44 billion.
2021-10-01
India Trade Deficit Confirmed to Widen Further in August
India's trade deficit was revised lower to USD 13.81 billion in August of 2021, from a preliminary estimate of USD 13.87 billion. However, the trade gap nearly doubled from an USD 8.2 billion gap a year ago. Imports jumped 51.72 percent, year-on-year to USD 47.09 billion, mainly due to purchases of crude oil (81 percent). Meanwhile, exports rose at a softer 45.76 percent to USD 33.28 billion, mainly driven by exports of petroleum products (144.6 percent); gems and jewellery (88.3 percent); engineering goods (59.01 percent), and cotton and handloom products (55.84 percent). On the contrary, exports fell significantly for Iron ore (-64.58 percent) and oil meals (-45.75 percent).
2021-09-14
India Trade Deficit Widens in August
India's trade deficit widened to USD 13.87 billion in August 2021, from USD 8.2 billion in the same period last year, a preliminary estimate showed. It was the largest trade gap since April, as domestic and foreign demand continued to recovery from the pandemic hit. Imports jumped 51.5 percent to a near record high of USD 47.01 billion and exports rose at a softer 45.2 percent to USD 33.14 billion.
2021-09-02

India Last Unit Reference Previous Highest Lowest
Balance of Trade -22590.00 USD Million Sep/21 -13810.00 790.00 -22590.00
Imports 56390.00 USD Million Sep/21 47.09 56390.00 46.40
Exports 33790.00 USD Million Sep/21 33280.00 35430.00 59.01


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.