Data Alert
India Dec trade deficit widens to $25.04 bln; exports at 9-month high
This story was originally published at 16:01 IST on 15 January 2026
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--India Dec merchandise exports $38.51 bln vs $37.80 bln year ago
--India Apr-Dec merchandise exports $330.29 bln vs $322.41 bln year ago
--Govt: India Dec services trade exports $35.5 bln
--India Dec merchandise imports $63.55 bln vs $58.43 bln year ago
--India Dec merchandise trade deficit $25.05 bln vs vs $20.63 bln year ago
--Govt: India Dec services trade exports $35.5 bln vs $36.97 bln year ago
--Govt: India Dec services trade imports $17.38 bln vs $17.80 bln year ago
--Govt: India Dec services trade surplus $18.12 bln vs $19.17 bln year ago
--Trade secy: India's goods exports to US up YoY in Apr-Dec
--India Apr-Dec merchandise imports $578.61 bln vs $546.36 bln year ago
--India Apr-Dec merchandise trade deficit $248.32 bln vs vs $223.95 bln year ago
--Trade secy: India's overall exports likely to be over $850 bln in FY26
--India Apr-Dec non-oil imports $443.18 bln vs $404.92 bln year ago
--India Apr-Dec non-oil exports $288.16 bln vs $273.12 bln year ago
--India Apr-Dec exports to US $65.88 bln vs $60.03 bln year ago
--India Apr-Dec imports from China $95.95 bln
--India Apr-Dec imports from Russia $44.98 bln vs $49.65 bln year ago
--India Dec exports to US $6.89 bln vs $7.01 bln year ago
--India Apr-Dec oil imports $135.43 bln vs $141.44 bln year ago
--India Apr-Dec engineering goods exports $90.73 bln vs $87.34 bln year ago
--India Apr-Dec petroleum product exports $42.13 bln vs $49.29 bln year ago
--India Apr-Dec gold imports $49.39 bln vs $48.51 bln year ago
NEW DELHI – India's merchandise trade deficit widened in December to $25.04 billion from $20.63 billion a year ago, according to data detailed by the commerce ministry Thursday. The deficit widened as imports grew at a much quicker pace than exports.
Goods exports rose 1.9% on year to a nine-month high of $38.51 billion in December. Imports grew 8.8% on year to $63.55 billion last month.
In November, India exported goods worth $38.13 billion and imported goods worth $62.66 billion. The trade deficit was at a five-month low of $24.53 billion in November.
India's goods exports to the US fell a tad by 1.7% on year in December to $6.89 billion. Exports to the US have remained robust during Apr-Dec, at $65.88 billion against $60.03 billion a year ago, despite the imposition of 50% tariffs by Washington.
India's merchandise exports rose to $330.29 billion during the first nine months of 2025-26 (Apr-Mar) from $322.41 billion a year ago. India imported goods worth $578.61 billion in Apr-Dec, up from $546.36 billion in the same period last year. Trade deficit during Apr-Dec was $248.32 billion against $223.95 billion a year ago.
India's goods exports may rise to over $450 billion in FY26, Commerce Secretary Rajesh Agrawal said. India exported goods worth $438 billion in FY25.
The government estimates services trade exports at $35.50 billion in December, down 4.0% on year. Services trade imports fell 2.4% on year to $17.38 billion last month. India recorded a services trade surplus of $18.12 billion in December, lower than a surplus of $19.17 billion in December 2024.
India's overall exports are likely to be over $850 billion in FY26, Agrawal said. Overall exports were up 4.3% on year at $634.26 billion during Apr-Dec.
India imported oil worth $135.43 billion during Apr-Dec, down from $141.44 billion a year ago. Non-oil imports rose to $443.18 billion in Apr-Dec from $404.92 billion in the same period a year ago.
Electronic goods imports rose to $84.65 billion in Apr-Dec from $72.32 billion a year ago. India imported gold worth $49.39 billion in the nine months to December, slightly higher than $48.51 billion in the same period a year ago.
China remained the biggest import source nation in Apr-Dec, followed by United Arab Emirates and Russia. India imported goods worth $95.95 billion from China in Apr-Dec against $84.57 billion a year ago. Imports from Russia eased to $44.98 billion in Apr-Dec from $49.65 billion.
India's exports of petroleum products moderated in Apr-Dec to $42.13 billion from $49.29 billion a year ago. Non-oil exports rose to $288.16 billion in the nine months to December from $273.12 billion a year ago.
Engineering goods exports were up at $90.73 billion in Apr-Dec from $87.34 billion a year ago. Electronic goods exports also increased in Apr-Dec to $35.27 billion from $26.11 billion a year ago. India exported $2.05 billion worth of goods to China in December, higher than $1.22 billion a year ago. End
US$1 = INR 90.30
Reported by Krity Ambey and Shubham Rana
Edited by Tanima Banerjee
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