<h1>Export growth and services surplus drive overall trade expansion while merchandise deficit widens in latest estimates.</h1> Cumulative exports for April-December 2024 rose, led by services and select merchandise sectors, while the merchandise trade deficit widened as imports grew faster than exports. Key merchandise gainers included Electronic Goods, Engineering Goods, Rice and Textiles; Non petroleum and Non Gems & Jewellery exports increased. Services exports are estimated to have grown significantly, producing a substantial services surplus. December services data are provisional pending RBI release, and prior-period figures have been revised pro rata using quarterly balance of payments data.