India’s Trade Performance (April‑Feb 2025‑26)
The Ministry of Commerce & Industry estimates that total exports (merchandise + services) for the period April‑February 2025‑26 reached US$ 790.86 billion, a 5.79% rise over the same period last year. Imports grew faster, to US$ 900.51 billion (up 7.37%), widening the overall trade deficit.
Key Developments (February 2026)
- Exports (merchandise + services) for February 2026 estimated at US$ 76.13 bn, up 11.05% YoY.
- Imports for February 2026 estimated at US$ 80.09 bn, up 21.64% YoY.
- Merchandise exports fell slightly to US$ 36.61 bn from US$ 36.91 bn, while imports jumped to US$ 63.71 bn from US$ 51.33 bn.
- Services exports surged to US$ 39.53 bn (up 25.1%) and services imports rose to US$ 16.38 bn.
- Engineering Goods, Electronic Goods, Chemicals, Gems & Jewellery and Meat‑Dairy‑Poultry recorded double‑digit export growth.
Important Facts
Merchandise Trade: Cumulative merchandise exports reached US$ 402.93 bn (↑1.84%). Non‑petroleum exports rose 5.03% to US$ 354.12 bn. The trade deficit widened to US$ 310.60 bn from US$ 261.80 bn a year earlier.
Sector‑wise Export Growth (Feb 2026):
- Engineering Goods +12.9% (US$ 10.36 bn)
- Electronic Goods +10.37% (US$ 4.18 bn)
- Organic & Inorganic Chemicals +6.85% (US$ 2.38 bn)
- Gems & Jewellery +4.08% (US$ 2.64 bn)
- Meat, Dairy & Poultry +22.66% (US$ 0.55 bn)
Services Trade: Service exports for April‑Feb 2025‑26 estimated at US$ 387.93 bn (↑10.23% YoY), while imports were US$ 186.98 bn, yielding a services surplus of US$ 200.96 bn.
Top export destinations showing strong growth include China (+32.37% Feb 2026) and Vietnam (+49.46%). Major import sources with notable increases are Switzerland (+719.3%) and the United Kingdom (+202.59%).