New Delhi, July 13 (ANI): India’s merchandise trade deficit widened about 59% year over year to $30.43 billion in June 2026, as imports grew at a faster pace than exports, according to data released by the Ministry of Commerce and Industry.
Merchandise exports increased 15.5% year over year to $40.41 billion in June, up from $34.98 billion a year earlier. Merchandise imports, however, rose about 31% to $70.84 billion from $54.08 billion during the same period, widening the trade gap.
Including services, India’s total exports rose to $73.45 billion in June 2026 from $67.09 billion in June 2025, while total imports increased to $88.76 billion from $69.98 billion.
During the April-June quarter of fiscal year 2026-27, merchandise exports grew 15.92% year over year to $129.32 billion, while merchandise imports rose 19.89% to $216.18 billion.
Overall exports, including merchandise and services, increased 11.37% to a record $232.73 billion during the first quarter of FY27, up from $208.98 billion in the same period a year earlier, according to the ministry.
The ministry said the April-June performance marked the highest-ever overall quarterly exports of merchandise and services recorded during the first quarter of any fiscal year.
Trade data showed that India’s export growth remained broad-based across products and markets.
The United States remained India’s largest export destination during the April-June quarter, with exports totaling $25.47 billion, followed by the United Arab Emirates at $7.95 billion, Singapore at $6.52 billion, and China at $5.60 billion.
Among major markets, exports to China rose 27.5% year over year, Australia 25.1%, Mexico 21.5%, Germany 12.2%, and the United Kingdom 11.1%. Exports to Singapore more than doubled, while shipments to Sri Lanka and Tanzania increased 124.6% and 146.9%, respectively.
Regionally, exports to the Association of Southeast Asian Nations (ASEAN) grew 66.9%, while shipments to Africa rose 53.1% during the quarter.
According to the ministry, ASEAN and Africa together contributed more than $7.6 billion in additional exports compared with the previous year.
The ministry also highlighted strong export growth in several agricultural products, including whole cardamom and black tea, along with continued strength in engineering goods, pharmaceuticals, and other agricultural products. (ANI)
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