Data Alert
India Nov trade deficit at 5-month low, exports hit 6-month high
This story was originally published at 15:10 IST on 15 December 2025
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--India Nov merchandise exports $38.13 bln vs $31.94 bln year ago
--India Nov merchandise imports $62.66 bln vs $63.87 bln year ago
--India Nov merchandise trade deficit $24.53 bln vs vs $31.93 bln year ago
--Trade secy: Exports to US in Nov grew by $1.3 bln from year ago
--Trade secy: India Nov services exports $35.86 bln
--Govt: India Nov services trade exports $35.86 bln vs $32.11 bln year ago
--Govt: India Nov services trade exports $35.86 bln vs $32.11 bln year ago
--Govt: India Nov services trade surplus $17.90 bln vs $14.86 bln year ago
--India Apr-Nov merchandise exports $292.07 bln vs $284.60 bln year ago
--India Apr-Nov merchandise imports $515.21 bln vs $487.93 bln year ago
--India Apr-Nov merchandise trade deficit $223.14 bln vs vs $203.33 bln year ago
--India Apr-Nov non-oil imports $394.18 bln vs $360.09 bln year ago
--India Apr-Nov non-oil exports $254.08 bln vs $240.02 bln year ago
--India Apr-Nov imports from China $84.27 bln vs $74.82 bln year ago
--India Apr-Nov imports from Russia $40.81 bln vs $45.36 bln year ago
--India Apr-Nov imports from US $35.40 bln vs $31.19 bln year ago
--India Apr-Nov imports from UAE $40.81 bln vs $45.36 bln year ago
--India Apr-Nov exports to US $59.04 bln vs $53.01 bln year ago
--India Apr-Nov exports to UAE $25.49 bln vs $23.89 bln year ago
--Trade secy: India's goods exports to US holding up despite high tariffs
--India Apr-Nov oil imports $121.03 bln
--India Apr-Nov electronic goods imports $74.47 bln vs $63.98 bln year ago
--India Nov exports to US $6.98 bln vs $6.31 bln Oct
--India Nov exports to US $6.98 bln vs $5.70 bln in year-ago period
--India Apr-Nov gold imports $45.26 bln vs $43.80 bln year ago
--India Apr-Nov engineering goods exports $79.74 bln vs $76.49 bln year ago
--India Apr-Nov petroleum product exports $38.00 bln vs $44.58 bln year ago
--India Apr-Nov electronic goods exports $31.10 bln vs $22.53 bln year ago
--India Nov exports to China $2.20 bln vs $1.16 bln year ago
NEW DELHI – India's merchandise trade deficit narrowed to a five-month low of $24.53 billion in November from a record high in October, according to data detailed by the commerce ministry Monday. The deficit narrowed as exports grew at the quickest pace in 41 months in November and imports fell.
Goods exports rose 19.4% on year in November, the biggest rise since June 2022, to a six-month high of $38.13 billion. Imports fell on year for the first time in four months, down 1.9% at $62.66 billion in November.
In October, India exported goods worth $34.38 billion while imports were at record high of $76.06 billion. The trade deficit was $41.69 billion in October.
India's merchandise exports rose to $292.07 billion during the first eight months of 2025-26 (Apr-Mar) from $284.60 billion a year ago. India imported goods worth $515.21 billion in Apr-Nov, up from $487.93 billion in the same period last year. Trade deficit during Apr-Nov was $223.14 billion against $203.33 billion a year ago.
India's goods exports have continued to rise FY26 despite the imposition of 50% tariff by the US. Exports to US rose 22.5% on year in November to a four-month high of $6.98 billion. India's exports to US have risen 11.4% during Apr-Nov to $59.04 billion.
The government estimates services trade exports at $35.86 billion in November, up 11.9% on year. Services trade imports rose 4.1% on year to $17.96 billion. India recorded a services trade surplus of $17.90 billion last month, higher than a surplus of $14.86 billion in November 2024.
India's imported oil worth $121.03 billion during Apr-Nov, down from $127.84 billion a year ago. Non-oil imports rose to $394.18 billion in Apr-Nov from $360.09 billion in the same period a year ago.
Electronic goods imports rose to $74.47 billion in Apr-Nov from $63.98 billion a year ago. India imported gold worth $45.26 billion in the eight months to November, slightly higher than $43.80 billion in a the same period a year ago.
China remained the biggest import source nation in Apr-Nov, followed by United Arab Emirates and Russia. India imported goods worth $84.27 billion from China in Apr-Nov, higher than $74.82 billion a year ago. Imports from Russia declined to $40.81 billion in the eight months to November from $45.36 billion in the same period a year ago. Imports from UAE have also declined this year so far to $40.81 billion from $45.36 billion a year ago.
India's petroleum products exports eased in Apr-Nov to $38.00 billion from $44.58 billion a year ago. Non-oil exports were $254.08 billion in Apr-Nov as against $240.02 billion a year ago.
Engineering goods exports were up at $79.74 billion in Apr-Nov from $76.49 billion a year ago. Electronic goods exports also increased in Apr-Nov to $31.10 billion from $22.53 billion a year ago. The US was the biggest export destination this year, followed by the UAE. Exports to the UAE rose to $25.49 billion in Apr-Nov from $23.89 billion a year ago. India exported $2.20 billion worth of goods to China in November, higher than $1.16 billion a year ago. End
US$1 = INR 90.75
Reported by Krity Ambey and Shubham Rana
Edited by Akul Nishant Akhoury
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