India's trade deficit was revised slightly down to USD 30 billion in July of 2022, compared to a preliminary estimate of USD 31.02 billion and a USD 10.97 billion a year earlier. It was the largest trade shortfall on record, as imports jumped 42.8% yoy to USD 66.27 billion while exports increased at a much softer 2.4% to USD 36.27 billion. source: Ministry of Commerce and Industry, India

Balance of Trade in India averaged -3.15 USD Billion from 1957 until 2022, reaching an all time high of 0.79 USD Billion in June of 2020 and a record low of -30 USD Billion in July of 2022. 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 August of 2022.

Balance of Trade in India is expected to be -20.80 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 -9.60 USD Billion in 2023, according to our econometric models.

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India Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-08-02 01:30 PM Balance of Trade Prel Jul $-31.02B $-26.18B $-26B
2022-08-12 12:40 PM Balance of Trade Final Jul $-30B $-26.18B $-31B $-31.02B
2022-09-02 12:30 PM Balance of Trade Prel Aug $-30B


Related Last Previous Unit Reference
Balance of Trade -30.00 -26.18 USD Billion Jul 2022
Imports 66.27 66.31 USD Billion Jul 2022
Exports 36.27 40.13 USD Billion Jul 2022

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
-30.00 -26.18 0.79 -30.00 1957 - 2022 USD Billion Monthly
Current Prices, NSA

News Stream
India Posts Record Trade Deficit in July
India's trade deficit was revised slightly down to USD 30 billion in July of 2022, compared to a preliminary estimate of USD 31.02 billion and a USD 10.97 billion a year earlier. It was the largest trade shortfall on record, as imports jumped 42.8% yoy to USD 66.27 billion while exports increased at a much softer 2.4% to USD 36.27 billion.
2022-08-12
India Trade Deficit Continues to Break Record Highs
India recorded an all-time high trade deficit of 31.02 USD Billion in July of 2022, three times higher than a 11 USD Billion gap a year earlier, pushed higher by a rise in crude oil and coal imports, preliminary estimates showed. Imports jumped 42.8% year-on-year to 66.26 USD Billion and exports fell 0.5% to USD Billion.
2022-08-02
India Trade Gap at Fresh High
India's trade deficit was revised slightly higher to USD 26.18 billion in June of 2022, compared to a preliminary estimate of USD 25.64 billion and a USD 9.60 billion a year earlier. Imports jumped by a whopping 57.55 percent year-on-year to an all-time high of USD 66.31 billion, boosted by sharp rise in purchases of silver (6540.07%), gold (182.81%) and coal, coke and briquettes (260.56%). Recently, the government raised import taxes on gold to 12.5% in July, reversing a cut last year to tame the effect of increased gold imports on the country’s fast-widening trade gap. Meanwhile, exports rose at a softer 23.52 percent to USD 40.13 billion, mainly driven by sales of petroleum products (119.03%) and engineering goods (60.70%).
2022-07-14