India’s Merchandise Exports Edge Up 0.61% to USD 36.56 Billion in January; Trade Deficit at USD 34.68 Billion

January Trade Data: Exports Show Marginal Growth, Imports Surge​

New Delhi, February 16: India’s merchandise exports recorded a marginal rise of 0.61 per cent to USD 36.56 billion in January, Commerce Secretary Rajesh Agrawal said on Monday, indicating steady overseas demand during the month.

However, imports witnessed a sharper increase, climbing 19.2 per cent year on year to USD 71.24 billion in January, compared with USD 59.77 billion in the same month last year.

The higher import growth led to a widening trade deficit of USD 34.68 billion during the month under review.

Trade Deficit Widens Amid Higher Import Bill​

The gap between exports and imports expanded significantly as the import bill outpaced export growth. With imports touching USD 71.24 billion and exports at USD 36.56 billion, the merchandise trade deficit stood at USD 34.68 billion in January.

The data underscores the pressure from rising imports even as exports maintained positive momentum.

Exports of Goods and Services Remain Positive​

According to Rajesh Agrawal, India’s exports continue to remain positive for both goods and services. He added that the combined exports of goods and services are likely to exceed USD 860 billion in the current fiscal year.

This projection reflects resilience in overall external trade performance despite global uncertainties.

April–January Exports Rise 2.22% to USD 366.63 Billion​

For the April to January period of the ongoing fiscal year, exports grew by 2.22 per cent to USD 366.63 billion.

The cumulative growth indicates a steady expansion in outbound shipments over the financial year so far, even as monthly trade dynamics fluctuate.

With January figures now in, the focus remains on sustaining export growth while managing the rising import bill in the remaining months of the fiscal year.