According to the data released by the Ministry of Commerce and Industry (MoC&I), India’s total exports, including merchandise and services, were estimated at USD 74.97 billion in January 2025, marking a 9.72% increase compared to January 2024.
- Meanwhile, total imports, covering merchandise and services, stood at USD 77.64 billion, reflecting a 12.98% rise over the same period last year.
India’s cumulative exports for April 2024 – January 2025 are estimated at USD 682.59 billion, reflecting a 7.21% increase compared to April 2023 – January 2024. Total imports for April 2024 – January 2025 are estimated at USD 770.06 billion, registering a growth of 8.96% over April 2023 – January 2024.
Trade in January 2025 & April 2024- January 2025
| Trade Category | January 2025 (USD Billion) | April 2024-January 2025 (USD Billion) | |
|---|---|---|---|
| Merchandise | Exports | 36.43 | 358.91 |
| Imports | 59.42 | 601.90 | |
| Services | Exports | 38.55 | 323.68 |
| Imports | 18.22 | 168.17 | |
| Total | Exports | 74.97 | 682.59 |
| Imports | 77.64 | 770.06 | |
| Trade Balance | -2.67 | -87.47 |
Merchandise Trade
i.In January 2025, merchandise exports were USD 36.43 billion, slightly lower than USD 37.32 billion recorded in January 2024. On the other hand, merchandise imports for January 2025 stood at USD 59.42 billion, showing an increase from USD 53.88 billion in January 2024.
ii.For the April 2024 – January 2025 period, merchandise exports were estimated at USD 358.91 billion, rising from USD 353.97 billion in April 2023 – January 2024. Merchandise imports during this period reached USD 601.90 billion, higher than USD 560.27 billion recorded in April 2023 – January 2024.
- The trade balance remained negative in both periods. In January 2025, the trade deficit stood at USD 2.67 billion as imports exceeded exports.
- For the April 2024 – January 2025 period, the trade deficit widened to USD 87.47 billion, reflecting higher import growth compared to exports.
Services Trade
i.In January 2025, India’s services exports were estimated at USD 38.55 billion, increasing from USD 31.01 billion in January 2024.
- Meanwhile, services imports for January 2025 stood at USD 18.22 billion, up from USD 14.84 billion in January 2024.
ii.During April 2024 – January 2025, services exports were estimated at USD 323.68 billion, compared to USD 282.71 billion in April 2023 – January 2024.
- Similarly, services imports for this period reached USD 168.17 billion, rising from USD 146.48 billion in April 2023 – January 2024.
iii.The services trade surplus for April 2024 – January 2025 stood at USD 155.52 billion, higher than the USD 136.23 billion recorded in April 2023 – January 2024.
Top Export and Import Countries
i.The top five export destinations that recorded positive growth in January 2025 compared to January 2024, based on the change in value, are:
United States of America (USA) (39.02%), Japan (53.53%), Bangladesh (17.27%, United Kingdom (UK) (14.84%), Nepal (20.84%)
ii.The top five export destinations showing positive growth in terms of value during April 2024 – January 2025 compared to the same period last year are: USA (8.95%), United Arab Emirates (UAE) (6.82%), Netherlands (9.17%), UK (14.17%), Japan (21.12%)
iii.The top five countries from which India’s imports increased in January 2025 compared to January 2024 are:
China (17.06%), Thailand (136.63%), USA (33.46%), Germany (72.15%), UK (101.62%).
iv.During April 2024 – January 2025, the top five countries from which India’s imports grew compared to the same period last year are:
UAE (35.58%), China (10.6%), Russia (7.17%), Switzerland (16.61%, Thailand (32.59%).
About Ministry of Commerce and Industry (MoC&I):
Union Minister– Piyush Goyal (Constituency- Mumbai North- Maharashtra)
Minister of State (MoS)– Jitin Prasada (Constituency- Pilibhit, Uttar Pradesh,UP)
