The cumulative value of merchandise exports during April-August 2025 was US$ 184.13 Billion, as compared to US$ 179.60 Billion during April-August 2024, registering a positive growth of 2.52%

The cumulative Non-Petroleum exports in April-August 2025 valued at US$ 158.07 Billion registered an increase of 7.35% as compared to US$ 147.25 Billion in April-August 2024

Major drivers of merchandise exports growth in August 2025 include Electronic Goods, Engineering Goods, Gems & Jewellery, Petroleum Products and Drugs & Pharmaceuticals

Electronic Goods exports increased by 25.93% from US$ 2.32 Billion in August 2024 to US$ 2.93 Billion in August 2025

Engineering Goods exports increased by 4.91% from US$ 9.44 Billion in August 2024 to US$ 9.90 Billion in August 2025

Gems & Jewellery exports increased by 15.57% from US$ 2 Billion in August 2024 to US$ 2.31 Billion in August 2025

Petroleum Products exports increased by 6.54% from US$ 4.20 Billion in August 2024 to US$ 4.48 Billion in August 2025

Drugs & Pharmaceuticals exports increased by 6.94% from US$ 2.35 Billion in August 2024 to US$ 2.51 Billion in August 2025

India’s total exports (Merchandise and Services combined) for August 2025* is estimated at US$ 69.16 Billion, registering a positive growth of 9.34 percent vis-à-vis August 2024. Total imports (Merchandise and Services combined) for August 2025* is estimated at US$ 79.04 Billion, registering a negative growth of (-) 7 percent vis-à-vis August 2024.

Table 1: Trade during August 2025*

		August 2025 (US$ Billion)	August 2024 (US$ Billion)
Merchandise	Exports	35.10	32.89
	Imports	61.59	68.53
Services*	Exports	34.06	30.36
	Imports	17.45	16.46
Total Trade (Merchandise +Services) *	Exports	69.16	63.25
	Imports	79.04	84.99
	Trade Balance	-9.88	-21.73

* Note: The latest data for services sector released by RBI is for July 2025. The data for August 2025 is an estimation. (ii) Data for April-August 2024 and April-June 2025 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Total Trade during August 2025*

India’s total exports during April-August 2025* is estimated at US$ 349.35 Billion registering a positive growth of 6.18 percent. Total imports during April-August 2025* is estimated at US$ 390.78 Billion registering a growth of 2.49 percent.

Table 2: Trade during April-August 2025*

		April-August 2025 (US$ Billion)	April-August 2024 (US$ Billion)
Merchandise	Exports	184.13	179.60
	Imports	306.52	300.12
Services*	Exports	165.22	149.43
	Imports	84.25	81.18
Total Trade (Merchandise +Services) *	Exports	349.35	329.03
	Imports	390.78	381.30
	Trade Balance	-41.42	-52.27

 

Fig 2: Total Trade during April-August 2025*   

       

MERCHANDISE TRADE

• Merchandise exports during August 2025 were US$ 35.10 Billion as compared to US$ 32.89 Billion in August 2024.

• Merchandise imports during August 2025 were US$ 61.59 Billion as compared to US$ 68.53 Billion in August 2024.

 

Fig 3: Merchandise Trade during August 2025

• Merchandise exports during April-August 2025 were US$ 184.13 Billion as compared to US$ 179.60 Billion during April-August 2024.

• Merchandise imports during April-August 2025 were US$ 306.52 Billion as compared to US$ 300.12 Billion during April-August 2024.

• Merchandise trade deficit during April-August 2025 was US$ 122.39 Billion as compared to US$ 120.52 Billion during April-August 2024.

Fig 4: Merchandise Trade during April-August 2025

• Non-petroleum and non-gems & jewellery exports in August 2025 were US$ 28.31 Billion compared to US$ 26.68 Billion in August 2024.

• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in August 2025 were US$ 41.02 Billion compared to US$ 41.41 Billion in August 2024.

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

	August 2025 (US$ Billion)	August 2024 (US$ Billion)
Non- petroleum exports	30.62	28.69
Non- petroleum imports	48.33	56.40
Non-petroleum & Non-Gems & Jewellery exports	28.31	26.68
Non-petroleum & Non-Gems & Jewellery imports	41.02	41.41

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

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

 

• Non-petroleum and non-gems & jewellery exports in April-August 2025 were US$ 146.71 Billion, compared to US$ 136.13 Billion in April-August 2024.

• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-August 2025 were US$ 201.76 Billion, compared to US$ 188.01 Billion in April-August 2024.

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

	April-August 2025 (US$ Billion)	April-August 2024 (US$ Billion)
Non- petroleum exports	158.07	147.25
Non- petroleum imports	228.43	221.97
Non-petroleum & Non Gems & Jewellery exports	146.71	136.13
Non-petroleum & Non Gems & Jewellery imports	201.76	188.01

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

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

SERVICES TRADE

• The estimated value of services export for August 2025* is US$ 34.06 Billion as compared to US$ 30.36 Billion in August 2024.

• The estimated value of services imports for August 2025* is US$ 17.45 Billion as compared to US$ 16.46 Billion in August 2024.

Fig 7: Services Trade during August 2025*

 

• The estimated value of service exports during April-August 2025* is US$ 165.22 Billion as compared to US$ 149.43 Billion in April-August 2024.

• The estimated value of service imports during April-August 2025* is US$ 84.25 Billion as compared to US$ 81.18 Billion in April-August 2024.

• The services trade surplus for April-August 2025* is US$ 80.97 Billion as compared to US$ 68.25 Billion in April-August 2024.

Fig 8: Services Trade during April-August 2025*

• Exports of  Other Cereals  (89.69%), Electronic Goods (25.93%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (24.57%), Tea (20.52%), Meat, Dairy & Poultry Products (17.69%), Gems & Jewellery (15.57%), Rice (11.94%), Ceramic Products & Glassware (11.4%), Marine Products (7.87%), Cereal Preparations & Miscellaneous Processed Items (7.3%), Drugs & Pharmaceuticals (6.94%), Petroleum Products (6.54%), Fruits & Vegetables (5.77%), Engineering Goods (4.91%), Organic & Inorganic Chemicals (3.76%), Oil Seeds (3.62%), Spices (0.52%) and Leather & Leather Products (0.14%) record positive growth during August 2025 over the corresponding month of last year.

• Imports of Project Goods (-90.63%), Pulses (-64.14%), Silver (-59.67%), Gold (-56.67%), Newsprint (-35.28%), Leather & Leather Products (-27.04%), Dyeing/Tanning/Colouring Mtrls. (-26.84%), Transport Equipment (-26.54%), Coal, Coke & Briquettes, Etc. (-26.2%), Wood &  Wood Products (-14.46%), Iron & Steel (-10.98%), Artificial Resins, Plastic Materials, Etc. (-9.69%), Organic & Inorganic Chemicals (-5.19%), Chemical Material & Products (-3.73%), Pulp And Waste Paper (-3.25%) and Textile Yarn Fabric, Made-Up Articles (-0.6%) record negative growth during August 2025 over the corresponding month of last year.

• Services exports is estimated to grow by 10.57 percent during April-August 2025* over April-August 2024.

• Top 5 export destinations, in terms of change in value, exhibiting positive growth in August 2025 vis a vis August 2024 are U Arab Emts (23.42%), U S A (7.15%), Netherland (17.87%), Hong Kong (62.46%) and China P Rp (22.38%).

• Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-August 2025 vis a vis April-August 2024 are U S A (18.06%), China P Rp (19.82%), U Arab Emts (6.53%), Hong Kong (26.19%) and Germany (11.73%).

• Top 5 import sources, in terms of change in value, exhibiting growth in August 2025 vis a vis August 2024 are Russia (21.7%), Saudi Arab (38.43%), Ireland (150.15%), Iraq (8.85%) and Qatar (15.25%).

• Top 5 import sources, in terms of change in value, exhibiting growth in April-August 2025 vis a vis April-August 2024 are China P Rp (10.19%), Ireland (266.67%), U Arab Emts (9.18%), Hong Kong (24.05%) and U S A (8.54%).

Trade growth: exports rose and imports moderated, narrowing the trade deficit and boosting services surplus. Combined merchandise and services exports for April-August 2025 rose year on year while imports grew at a lower rate, narrowing the cumulative trade deficit; August 2025 estimates show higher combined exports and lower combined imports versus August 2024. Merchandise export growth was led by Electronic Goods, Engineering Goods, Gems & Jewellery, Petroleum Products and Drugs & Pharmaceuticals, while non petroleum and non petroleum/non gems & jewellery exports expanded in both the monthly and cumulative periods. Services exports and the services surplus increased in the April-August period. The release also identifies top export destinations and import sources showing notable year on year value changes.