Data Alert
First data post Trump tariffs shows jump in India Apr trade gap
This story was originally published at 21:19 IST on 15 May 2025
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--India Apr merchandise exports $38.49 bln vs $35.30 bln year ago
--India Apr merchandise imports $64.91 bln vs $54.49 bln year ago
--India Apr merchandise trade deficit $26.42 bln vs vs $19.19 bln year ago
--Govt: India Apr services trade exports $35.31 bln vs $30.18 bln year ago
--Govt: India Apr services trade imports $17.54 bln vs $16.76 bln year ago
--Govt: India Apr services trade surplus $17.77 bln vs $13.42 bln year ago
--India Apr non-oil imports $44.20 bln vs $37.99 bln year ago
--India Apr non-oil exports $31.11 bln vs $28.26 bln year ago
--India Apr engineering goods exports $9.51 bln vs $8.55 bln year ago
--India Apr electronic goods exports $3.69 bln vs $2.65 bln year ago
--India Apr petroleum product exports $7.37 bln vs $7.05 bln year ago
--India Apr oil imports $20.72 bln vs $16.49 bln year ago
--India Apr electronic goods imports $9.25 bln vs $7.05 bln year ago
--India Apr gold imports $3.10 bln vs $2.95 bln year ago
--India Apr exports to US $8.42 bln vs $6.61 bln year ago
--India Apr imports from Russia $6.23 bln vs $5.29 bln year ago
--India Apr imports from China $9.91 bln vs $7.80 bln year ago
NEW DELHI – India's merchandise trade deficit widened to a five-month high of $26.42 billion in April because of a jump in imports during the month, data from the commerce ministry Thursday showed. The trade deficit was $21.54 billion in March and $19.19 billion in April 2024.
Import of goods rose 19.1% on year to a six-month high of $64.91 billion in April while exports were up 9.0% at $38.49 billion. At 9.0%, the year-on-year growth in exports is the highest in six months. The April trade data reflects the impact of the imposition, and subsequent suspension, of reciprocal tariffs by the US on its trading partners. The US had imposed a 26% tariff on import of goods from India on Apr. 2, which was then put on hold till Jul. 9.
"We have opened the year with a bang," Commerce Secretary Sunil Barthwal said while giving the trade data for April. Indian exports have shown commendable resilinece despite such uncertainties on the external front, Barthwal added.
The March trade data had shown India's merchandise exports to the US jumped 35.1% on year to $10.15 billion in the last month of 2024-25 (Apr-Mar). India had imported goods worth $63.51 billion in March.
India's services exports in April rose 17.0% on year to $35.31 billion, according to the commerce ministry's provisional data. Services imports rose just 4.7% to $17.54 billion in April, pushing the trade surplus to $17.77 billion from $13.42 billion a year ago. The Reserve Bank of India would further update services trade data by the end of May.
On the goods front, both oil and non-oil imports jumped up in April from a year ago. Oil imports rose 25.7% on year to $20.72 billion in April while non-oil imports were up 16.3% at $44.20 billion.
India imported gold worth $3.10 billion in April, up 4.9% on year. Electronic goods imports rose 31.2% to $9.25 billion.
Exports of petroleum products rose 4.7% on year to $7.37 billion last month while non-oil exports increased to $31.11 billion from $28.26 billion a year ago. India exported engineering goods worth $9.51 billion in April, higher than $8.55 billion exported a year ago. Electronic goods exports rose to $3.69 billion in April from $2.65 billion a year ago.
US remained the biggest export destination for Indian goods in April, despite the imposition and subsequent suspension of tariffs by Washington. India exported goods worth $8.42 billion to US in April, up 27.3% on year.
Imports from the US jumped 63.8% on year to $5.24 billion in April. This is in line with India's plan to reduce the trade deficit with the US.
US President Donald Trump had expressed dissatisfaction over the country's huge trade deficit with other nations, especially India, on multiple instances in the last few months, even before assuming office in January. Following this, Prime Minister Narendra Modi, during his visit to the US in February, had assured Trump that the US would become the leading supplier of oil and natural gas to India.
India's imports from China and Russia also rose in double digits in April to $9.91 billion and $6.23 billion, respectively. Inbound shipments from the United Arab Emirates rose by a whopping 89% to $6.23 billion in April.
The following tables detail trade data for April, in billion dollars, and the percentage changes:
|
April 2025 |
April 2024 |
Year-on-year change |
|
|
Exports |
38.49 | 35.30 | 9.0% |
|
Engineering goods |
9.51 | 8.55 | 11.3% |
|
Gems and jewellery |
2.50 | 2.26 | 10.7% |
|
Petroleum products |
7.37 | 7.05 | 4.7% |
|
Imports |
64.91 | 54.49 | 19.1% |
|
Crude oil |
20.72 | 16.49 | 25.6% |
|
Electronic goods |
9.25 | 7.05 | 31.2% |
|
Gold |
3.10 | 2.95 | 4.9% |
|
Trade deficit |
26.42 | 19.19 | 37.7% |
End
US$1 = INR 85.55
Reported by Krity Ambey and Shubham Rana
Edited by Ashish Shirke
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