In the merchandise sector, exports fell to USD 36.91 billion in February 2025, down from USD 41.41 billion in the same period last year. However, imports also saw a significant decline, reaching USD 50.96 billion compared to USD 60.92 billion in February 2024, resulting in a reduced trade deficit.
In contrast, services exports increased, rising to USD 35.03 billion in February 2025, up from USD 28.33 billion in the previous year. Services imports also grew to USD 16.55 billion, compared to USD 15.23 billion in February 2024.
Cumulative Trade Trends
For the period April 2024 to January 2025, India’s exports expanded by 7.21%, adding USD 46 billion over the previous year. Merchandise exports in this period rose by USD 5 billion, with non-petroleum exports recording 14.47% growth in January 2025.
Key export contributors included:
- Rice exports, which surged 44.61%, reinforcing India’s position as a global leader in the sector.
- Gems and jewellery exports, which rebounded with 15.9% growth in January 2025.
Trade Outlook
Despite global economic shifts, India’s trade sector remains resilient, supported by steady demand for its goods and services. The overall trade balance has improved due to reduced imports, contributing to economic stability.
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