India’s merchandise trade deficit rises 30.37% to $32.15 bn

India’s merchandise export in September was up 675 per cent at USD 36.38 billion compared to USD 34.08 billion on a year-on-year (YoY) basis, according to the data released by the Ministry of Commerce and Industry on Wednesday.

- TDG NETWORK

However, merchandise imports increased by 16.7 per cent to USD 68.53 billion, compared to USD 58.74 billion on a year-over-year basis, according to the data.

This translates into a trade deficit going up by 30.37 per cent at USD 24.66 billion compared to USD 32.15 billion YoY.

On a monthly basis with the estimated services data, India’s trade deficit (merchandise and services combined) widened to USD 16.61 billion in September 2025, compared to USD 8.60 billion in the same month last year, according to data released by the ministry.