India’s cumulative exports, encompassing both merchandise and services, for the period April-January 2024-25 are estimated at USD 682.59 billion, reflecting a 7.21% increase compared to USD 636.69 billion recorded during the same period in 2023-24.
Merchandise exports for April-January 2024-25 stood at USD 358.91 billion, registering a modest growth of 1.39% over USD 353.97 billion in the corresponding period of the previous year.
Non-petroleum exports in January 2025 reached USD 32.86 billion, marking a substantial rise of 14.47% compared to USD 28.71 billion in January 2024. The cumulative non-petroleum exports during April-January 2024-25 were valued at USD 305.84 billion, reflecting a 7.90% increase over USD 283.45 billion in the same period of 2023-24.
Exports excluding petroleum, gems & jewellery rose by 14.33% from USD 26.12 billion in January 2024 to USD 29.87 billion in January 2025.
The primary contributors to the expansion of merchandise exports in January 2025 included electronic goods, engineering goods, pharmaceuticals, rice, and gems & jewellery. Exports of electronic goods surged by 78.97%, increasing from USD 2.29 billion in January 2024 to USD 4.11 billion in January 2025. Engineering goods exports rose by 7.44%, reaching USD 9.42 billion from USD 8.77 billion in the same period of the previous year. Pharmaceutical exports increased by 21.46% from USD 2.13 billion to USD 2.59 billion, while rice exports saw a sharp rise of 44.61% from USD 0.95 billion to USD 1.37 billion. Gems & jewellery exports also experienced growth of 15.95%, reaching USD 3 billion in January 2025 from USD 2.59 billion in January 2024.
India’s total exports, including both merchandise and services, for January 2025 are estimated at USD 74.97 billion, reflecting a year-on-year increase of 9.72%. Total imports for January 2025 stood at USD 77.64 billion, registering a growth of 12.98% over January 2024.
For the April-January 2024-25 period, total exports reached USD 682.59 billion, growing by 7.21%, while total imports were estimated at USD 770.06 billion, an 8.96% increase over the previous year.
Merchandise Trade:
Merchandise exports in January 2025 amounted to USD 36.43 billion, slightly lower than the USD 37.32 billion recorded in January 2024. Cumulatively, merchandise exports for April-January 2024-25 totalled USD 358.91 billion, compared to USD 353.97 billion in the corresponding period of 2023-24.
Merchandise imports in January 2025 stood at USD 59.42 billion, up from USD 53.88 billion in January 2024. For April-January 2024-25, merchandise imports reached USD 601.90 billion, compared to USD 560.27 billion in the previous fiscal period.
The merchandise trade deficit for April-January 2024-25 widened to USD 242.99 billion, as against USD 206.29 billion in April-January 2023-24.
Exports of non-petroleum and non-gems & jewellery goods in January 2025 stood at USD 29.87 billion, compared to USD 26.12 billion in January 2024. Corresponding imports of non-petroleum and non-gems & jewellery goods, including gold, silver, and other precious metals, amounted to USD 41.20 billion in January 2025, compared to USD 34.23 billion in January 2024.
During April-January 2024-25, non-petroleum and non-gems & jewellery exports totalled USD 281.46 billion, increasing from USD 256.56 billion in the previous year. Imports of these categories amounted to USD 378.34 billion, compared to USD 354.86 billion during the same period in 2023-24.
Services Trade:
The estimated value of services exports for January 2025 stood at USD 38.55 billion, compared to USD 31.01 billion in January 2024. Meanwhile, services imports for January 2025 were estimated at USD 18.22 billion, compared to USD 14.84 billion in January 2024.
For the April-January 2024-25 period, services exports were estimated at USD 323.68 billion, up from USD 282.71 billion in the corresponding period of 2023-24. Services imports for the same period amounted to USD 168.17 billion, compared to USD 146.48 billion in the previous year.
The services trade surplus for April-January 2024-25 stood at USD 155.52 billion, up from USD 136.23 billion recorded in April-January 2023-24.
Note: The latest January 2025 data for the Services sector is estimated.
Cover photo: www.pexels.com
