DGCI&S · RBI · Ministry of Commerce & Industry · FY 2014-15 to FY 2024-25

India Exports & Imports

Annual merchandise and services trade data from 2014-15 to 2024-25 — exports, imports, trade balance and sectoral breakdown. All figures in US$ Billion. Source: DGCI&S, Reserve Bank of India (RBI) and Ministry of Commerce & Industry official press releases.

📦 Merch Exports: $437B (2024-25) 📥 Merch Imports: $720B (2024-25) 💻 Services Exports: $388B (2024-25) 🌐 Total Exports: $825B — Record High ⚖ Merch Trade Deficit: $283B (2024-25)
Source: DGCI&S Kolkata · Reserve Bank of India (Services) PIB / Ministry of Commerce & Industry press releases 2024-25 figures: provisional/estimated as per official PIB (April–March 2025) All values in US$ Billion
National Snapshot · FY 2024-25

Total Exports (Merch+Svcs)

$824.9B

↑ 6.0% vs 2023-24 · Record

Total Imports (Merch+Svcs)

$915.2B

↑ 6.9% vs 2023-24

Merchandise Exports

$437.4B

↑ 0.1% vs 2023-24

Merchandise Imports

$720.2B

↑ 6.2% vs 2023-24

Services Exports

$387.5B

↑ 13.6% · Record high

Merchandise Trade Deficit

$282.8B

Widened from $241B
Total Trade (Merchandise + Services)

India Total Exports & Imports (Merchandise + Services) · USD Billion

Annual FY data · DGCI&S + RBI · 2014-15 to 2024-25

Total Exports Total Imports Trade Deficit

COVID Dip & Recovery

Total exports fell from $538B (2018-19) to $498B (2020-21) during COVID, then surged to $775B in 2022-23 driven by commodity price rises and post-pandemic pent-up demand. The recovery was sharper than the decline.

Services: India's Structural Edge

Services exports — led by IT/software and business services — grew from ~$158B (2014-15) to $388B (2024-25), nearly tripling. The services trade surplus of ~$189B in 2024-25 substantially offsets the merchandise deficit of $283B.

Merchandise Deficit Widening

India's merchandise trade deficit widened from $138B in 2014-15 to $283B in 2024-25. Petroleum crude, electronics and gold dominate imports. Non-petroleum, non-gems merchandise exports hit a record $374B in 2024-25.

Net Trade Position

The overall trade deficit (merch+services) for 2024-25 stands at ~$90B. India runs a goods deficit but a services surplus — a structural feature since India's IT and BPO sectors generate large services receipts from abroad.

Merchandise Trade · Goods Only

Merchandise Exports & Imports · USD Billion

Physical goods trade only (excluding services) · DGCI&S · annual FY data

Merchandise Exports Merchandise Imports

Merchandise Trade Balance

Deficit = Imports − Exports · USD Billion · negative = deficit

Exports Year-on-Year Growth

Total exports (merch+svcs) % change vs prior year

Services Trade

Services Exports, Imports & Surplus · USD Billion

RBI Balance of Payments data · IT/software dominant in exports · 2014-15 to 2024-25

Services Exports Services Imports Services Surplus
Key Merchandise Export Sectors · FY 2024-25
Trade Balance Breakdown

Merchandise Deficit vs Services Surplus · Net Trade Position · USD Billion

Services surplus partially offsets merchandise deficit · FY 2014-15 to 2024-25

Merchandise Deficit (negative) Services Surplus (positive) Net Trade Balance
Complete Annual Data Table

India Trade Statistics · FY 2014-15 to FY 2024-25

All figures in USD Billion · Merchandise: DGCI&S · Services: RBI · Total: Ministry of Commerce & Industry PIB

Sources: Total (merch+services) 2014-15 to 2021-22: PIB, Ministry of Commerce & Industry, March 16, 2022 (Lok Sabha written reply) citing DGCI&S & RBI. 2021-22 merchandise: PIB April 2022 (all-time high announcement). 2022-23 merchandise: DGCI&S; services: RBI. 2023-24: PIB March 2024 / April 2024 full-year estimates. 2024-25: PIB April 2025 (PRID 2122016 + PRID 2126119, provisional); RBI final services March 2025. ★ 2024-25 total exports record: $824.9B confirmed by RBI (PIB PRID 2126119, May 2025).
FY Merch Exports Merch Imports Merch Balance Services Exports Services Imports Services Surplus Total Exports Total Imports Net Balance Export YoY