India’s merchandise trade deficit shoots up to $243 billion in April-January 2024-25
17 Feb 2025
India added nearly $23 billion to its merchandise trade deficit in January 2025, taking the deficit for the first 10 months of the fiscal (April-January 2024-25) to $242.99 billion.
The country exported goods valued at $36.43 billion in January 2025, which is slightly lower compared to exports valued at $37.32 billion in January 2024.
During the period April-January 2024-25 the country exported goods valued at $358.91 billion against exports valued at $353.97 billion in April-January 2023-24.
Merchandise imports into the country, on the other hand, stood at $59.42 billion in January 2025 against imports valued at $53.88 billion in January 2024.
Merchandise imports during April-January 2024-25 expanded by a whopping $41.63 billion to $601.90 billion against imports valued at $560.27 billion during April-January 2023-24.
The country’s merchandise trade deficit during April-January 2024-25 stood at $242.99 billion compared to $206.29 billion during April-January 2023-24.
Exports of goods other than petroleum and gems & jewellery stood at $29.87 billion in January 2025 against exports valued at $26.12 billion in January 2024.
Non-petroleum and non-gems and jewellery exports in April-January 2024-25 stood at $281.46 billion, against $256.56 billion in April-January 2023-24.
Imports of non-petroleum and non-gems & jewellery products in January 2025 stood at $41.20 billion compared to $34.23 billion in January 2024.
Non-petroleum and non-gems and jewellery imports in April-January 2024-25 stood at $378.34 billion, against $354.86 billion in April-January 2023-24.
India’s top 5 export destinations in terms of increase in value realisation year-on-year in January 2025 included USA (39.02 per cent), Japan (53.53 per cent), Bangladesh PR (17.27 per cent), UK (14.84 per cent) and Nepal (20.84 per cent).
For April-January 2024-25, the top 5 export destinations, in terms of value realisation included USA (8.95 per cent), UAE (6.82 per cent), Netherlands (9.17 per cent), UK (14.17 per cent) and Japan (21.12 per cent).
Top five import destinations, in terms of increase in value, included China PR (17.06 per cent), Thailand (136.63 per cent), USA (33.46 per cent), Germany (72.15 per cent) and UK (101.62 per cent).
For the April-January 2024-25 period, top 5 import sources, in terms of increase in value, are UAE (35.58 per cent), China PR (10.6 per cent), Russia (7.17 per cent), Switzerland (16.61 per cent) and Thailand (32.59 per cent).
India’s total exports, including merchandise and services exports, during April-January 2024-25 stood at $682.59 billion against total imports of $770.06 billion, showing deficit of 87.43 billion during April-January2024-25.
