India’s Total Exports Rise 13% To USD 80.45 Bn In January; Trade Deficit Widens To USD 10.38 Bn

New Delhi, Feb 17 (KNN) India’s total exports of merchandise and services rose 13.17 per cent year-on-year to an estimated USD 80.45 billion in January 2026, while total imports increased 18.76 per cent to USD 90.83 billion. 

The higher import growth widened the trade deficit to USD 10.38 billion, compared with USD 5.39 billion in January last year.

Merchandise Trade Shows Modest Export Growth

Merchandise exports in January stood at USD 36.56 billion, marginally higher than USD 36.34 billion a year earlier. Merchandise imports rose sharply to USD 71.24 billion from USD 59.77 billion, resulting in a merchandise trade deficit of USD 34.68 billion for the month.

Key export segments registering positive growth included other cereals, coffee, iron ore, meat and dairy products, marine products, engineering goods, petroleum products, drugs and pharmaceuticals, and electronic goods.

On the import side, declines were recorded in pulses, newsprint, chemicals, iron and steel, coal, project goods and crude petroleum.

Services Exports Provide Surplus Cushion

Services exports are estimated at USD 43.90 billion in January, up from USD 34.75 billion a year earlier. Services imports rose to USD 19.60 billion from USD 16.71 billion.

The services data for January is provisional, based on the latest available figures released by the Reserve Bank of India for December 2025.

The services sector generated a surplus of USD 24.30 billion in January, helping partly offset the merchandise trade deficit.

April–January Trade Performance

During April–January 2025–26, total exports are estimated at USD 720.76 billion, up 6.15 per cent year-on-year. Imports rose 6.54 per cent to USD 823.41 billion, leading to an overall trade deficit of USD 102.65 billion.

For the period, merchandise exports reached USD 366.63 billion, while imports totalled USD 649.86 billion, resulting in a merchandise deficit of USD 283.23 billion.

Services exports grew to USD 354.13 billion, with imports at USD 173.55 billion, generating a services surplus of USD 180.58 billion.

Non-Petroleum Trade and Key Partners

Non-petroleum and non-gems and jewellery exports in January rose to USD 30.47 billion from USD 29.86 billion a year earlier. Corresponding imports increased to USD 42.56 billion from USD 41.53 billion.

Among major export destinations, shipments to the United Arab Emirates, China, Hong Kong, Netherlands and Italy recorded notable growth in January.

On the import side, Switzerland, the United Arab Emirates, China, the United States and the United Kingdom were among the leading sources showing higher inflows.

(KNN Bureau)