The cumulative value of merchandise exports during April-June 2025 was US$ 112.17 Billion, as compared to US$ 110.06 Billion during April-June 2024, registering a positive growth of 1.92%.

The cumulative Non-Petroleum exports in April-June 2025 valued at US$ 94.77 Billion registered an increase of 5.97% as compared to US$ 89.42 Billion in April-June 2024.

Major drivers of merchandise exports growth in June 2025 include Electronic Goods, Drugs & Pharmaceuticals, Engineering Goods, Marine Products and Meat, dairy & poultry products

Electronic Goods exports increased by 46.93% from US$ 2.82 Billion in June 2024 to US$ 4.15 Billion in June 2025.

Drugs & Pharmaceuticals exports increased by 5.95% from US$ 2.47 Billion in June 2024 to US$ 2.62 Billion in June 2025.

Engineering Goods exports increased by 1.35% from US$ 9.38 Billion in June 2024 to US$ 9.50 Billion in June 2025.

Marine Products exports increased by 13.33% from US$ 0.56 Billion in June 2024 to US$ 0.63 Billion in June 2025.

Meat, dairy & poultry products exports increased by 19.70% from US$ 0.31 Billion in June 2024 to US$ 0.37 Billion in June 2025.

India’s total exports (Merchandise and Services combined) for June 2025* is estimated at US$ 67.98 Billion, registering a positive growth of 6.50 percent vis-à-vis June 2024. Total imports (Merchandise and Services combined) for June 2025* is estimated at US$ 71.50 Billion, registering a positive growth of 0.50 percent vis-à-vis June 2024.

Table 1: Trade during June 2025*

		June 2025 (US$ Billion)	June 2024 (US$ Billion)
Merchandise	Exports	35.14	35.16
	Imports	53.92	56.00
Services*	Exports	32.84	28.67
	Imports	17.58	15.14
Total Trade (Merchandise +Services) *	Exports	67.98	63.83
	Imports	71.50	71.14
	Trade Balance	-3.51	-7.30

* Note: The latest data for services sector released by RBI is for May 2025. The data for June 2025 is an estimation, which will be revised based on RBI’s subsequent release.

Fig 1: Total Trade during June 2025*

India’s total exports during April-June 2025* is estimated at US$ 210.31 Billion registering a positive growth of 5.94 percent. Total imports during April-June 2025* is estimated at US$ 230.62 Billion registering a growth of 4.38 percent.

Table 2: Trade during April-June 2025*

		April-June 2025 (US$ Billion)	April-June 2024 (US$ Billion)
Merchandise	Exports	112.17	110.06
	Imports	179.44	172.16
Services*	Exports	98.13	88.46
	Imports	51.18	48.78
Total Trade (Merchandise +Services) *	Exports	210.31	198.52
	Imports	230.62	220.94
	Trade Balance	-20.31	-22.42

Fig 2: Total Trade during April-June 2025*          

MERCHANDISE TRADE

• Merchandise exports during June 2025 were US$ 35.14 Billion as compared to US$ 35.16 Billion in June 2024.

• Merchandise imports during June 2025 were US$ 53.92 Billion as compared to US$ 56 Billion in June 2024.

Fig 3: Merchandise Trade during June 2025

• Merchandise exports during April-June 2025 were US$ 112.17 Billion as compared to US$ 110.06 Billion during April-June 2024.

• Merchandise imports during April-June 2025 were US$ 179.44 Billion as compared to US$ 172.16 Billion during April-June 2024.

• Merchandise trade deficit during April-June 2025 was US$ 67.26 Billion as compared to US$ 62.10 Billion during April-June 2024.

Fig 4: Merchandise Trade during April-June 2025

• Non-petroleum and non-gems & jewellery exports in June 2025 were US$ 28.74 Billion compared to US$ 27.43 Billion in June 2024.

• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in June 2025 were US$ 36.57 Billion compared to US$ 36.55 Billion in June 2024.

Table 3: Trade excluding Petroleum and Gems & Jewellery during June 2025

	June 2025 (US$ Billion)	June 2024 (US$ Billion)
Non- petroleum exports	30.53	29.67
Non- petroleum imports	40.12	40.94
Non-petroleum & Non-Gems & Jewellery exports	28.74	27.43
Non-petroleum & Non-Gems & Jewellery imports	36.57	36.55

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during June 2025

 

• Non-petroleum and non-gems & jewellery exports in April-June 2025 were US$ 88.10 Billion, compared to US$ 82.16 Billion in April-June 2024.

• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-June 2025 were US$ 117.02 Billion, compared to US$ 106.60 Billion in April-June 2024.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-June 2025

	April-June 2025 (US$ Billion)	April-June 2024 (US$ Billion)
Non- petroleum exports	94.77	89.42
Non- petroleum imports	130.17	120.64
Non-petroleum & Non Gems & Jewellery exports	88.10	82.16
Non-petroleum & Non Gems & Jewellery imports	117.02	106.60

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-June 2025

SERVICES TRADE

• The estimated value of services export for June 2025* is US$ 32.84 Billion as compared to US$ 28.67 Billion in June 2024.

• The estimated value of services imports for June 2025* is US$ 17.58 Billion as compared to US$ 15.14 Billion in June 2024.

Fig 7: Services Trade during June 2025*

  

• The estimated value of service exports during April-June 2025* is US$ 98.13 Billion as compared to US$ 88.46 Billion in April-June 2024.

• The estimated value of service imports during April-June 2025* is US$ 51.18 Billion as compared to US$ 48.78 Billion in April-June 2024.

• The services trade surplus for April-June 2025* is US$ 46.95 Billion as compared to US$ 39.68 Billion in April-June 2024.

Fig 8: Services Trade during April-June 2025*

• Exports of  Electronic Goods (46.93%), Tea (32.64%), Jute Mfg. Including Floor Covering (23.44%), Meat, Dairy & Poultry Products (19.7%), Other Cereals  (13.39%), Marine Products (13.33%), Cereal Preparations & Miscellaneous Processed Items (8.09%), Drugs & Pharmaceuticals (5.95%), Fruits & Vegetables (2.83%), Plastic & Linoleum (2.26%), Carpet (2.04%), Organic & Inorganic Chemicals (1.65%), Engineering Goods (1.35%), Rmg Of All Textiles (1.23%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (0.86%) and Rice (0.85%) record positive growth during June 2025 over the corresponding month of last year.
• Imports of Pulses (-74.96%), Newsprint (-61.66%), Gold (-25.73%), Transport Equipment (-20.46%), Coal, Coke & Briquettes, Etc. (-19.13%), Pearls, Precious & Semi-Precious Stones (-18.11%), Project Goods (-16.29%), Leather & Leather Products (-14.86%), Pulp And Waste Paper (-14.22%), Iron & Steel (-11.78%), Dyeing/Tanning/Colouring Mtrls. (-11.74%), Organic & Inorganic Chemicals (-8.86%), Petroleum, Crude & Products (-8.37%), Non-Ferrous Metals (-7.98%), Wood &  Wood Products (-3.65%), Artificial Resins, Plastic Materials, Etc. (-2.52%) and Textile Yarn Fabric, Made-Up Articles (-1.43%) record negative growth during June 2025 over the corresponding month of last year.
• Services exports is estimated to grow by 10.93 percent during April-June 2025* over April-June 2024.
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in June 2025 vis a vis June 2024 are U S A (23.53%), China P Rp (17.18%), Kenya (76.2%), France (21.78%) and Brazil (23.02%).
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-June 2025 vis a vis April-June 2024 are U S A (22.18%), China P Rp (17.87%), Kenya (69.83%), Germany (10.79%) and Australia (14.01%).
• Top 5 import sources, in terms of change in value, exhibiting growth in June 2025 vis a vis June 2024 are Ireland (265.82%), Hong Kong (23.09%), Singapore (18.16%), Thailand (25.68%) and China P Rp (2.48%).
• Top 5 import sources, in terms of change in value, exhibiting growth in April-June 2025 vis a vis April-June 2024 are China P Rp (16.33%), U Arab Emts (28.73%), Ireland (281.04%), U S A (11.68%) and Hong Kong (33.22%).

Trade growth: cumulative April-June exports rose on stronger services and non petroleum merchandise, moderating the trade deficit. Cumulative exports for April-June 2025 are estimated at US$210.31 billion (5.94% growth) and imports at US$230.62 billion (4.38% growth), yielding a continuing trade deficit. Merchandise exports were US$112.17 billion with stronger non petroleum performance; services exports rose materially, enlarging the services surplus. Sectoral gains were led by Electronic Goods, Drugs & Pharmaceuticals, Engineering Goods, Marine Products and Meat/Dairy/Poultry, while several import categories showed notable declines. June services estimates are provisional and subject to revision.