Business News | Merchandise Trade Deficit Widens to USD 30.43 Billion in June
Get latest articles and stories on Business at LatestLY. India's merchandise trade deficit widened by about 59 per cent year-on-year to USD 30.43 billion in June 2026, as imports grew at a faster pace than exports, according to data presented by the Ministry of Commerce and Industry.
New Delhi [India], July 13 (ANI): India's merchandise trade deficit widened by about 59 per cent year-on-year to USD 30.43 billion in June 2026, as imports grew at a faster pace than exports, according to data presented by the Ministry of Commerce and Industry.
Merchandise exports rose 15.5 per cent year-on-year to USD 40.41 billion in June from USD 34.98 billion a year ago. However, merchandise imports increased at a sharper pace of about 31 per cent to USD 70.84 billion from USD 54.08 billion during the same period, pushing the trade gap higher.
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Including services, India's overall exports increased to USD 73.45 billion in June 2026 from USD 67.09 billion in June 2025, while overall imports rose to USD 88.76 billion from USD 69.98 billion.
During the April-June quarter of FY2026-27, merchandise exports grew 15.92 per cent year-on-year to USD 129.32 billion, while merchandise imports increased 19.89 per cent to USD 216.18 billion.
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Overall exports, including merchandise and services, rose 11.37 per cent to a record USD 232.73 billion during the first quarter of FY27 from USD 208.98 billion a year earlier, according to the ministry's data.
The data also showed the April-June performance as the highest-ever overall quarterly exports (merchandise and services) recorded in the first quarter of any financial year.
Trade data showed that India's export growth remained broad-based across products and markets.
The United States continued to be India's largest export destination during April-June FY27 with exports worth USD 25.47 billion, followed by the UAE at USD 7.95 billion, Singapore at USD 6.52 billion and China at USD 5.60 billion.
Among major markets, exports to China increased 27.5 per cent year-on-year, Australia 25.1 per cent, Mexico 21.5 per cent, Germany 12.2 per cent and the United Kingdom 11.1 per cent. Shipments to Singapore more than doubled, while exports to Sri Lanka and Tanzania rose 124.6 per cent and 146.9 per cent, respectively.
Region-wise, exports to ASEAN grew 66.9 per cent, and shipments to Africa increased 53.1 per cent during the quarter. According to the presentation, ASEAN and Africa together contributed more than USD 7.6 billion in additional exports over the previous year.
The ministry also highlighted strong growth in exports of several agricultural products, including whole cardamom and black tea, alongside continued strength in engineering goods, pharmaceuticals and agricultural products. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)