• India’s total exports (Merchandise and Services combined) for December 2024* is estimated at USD 70.67 Billion, registering a positivegrowth of 0.92 percent vis-à-vis December 2023.Total imports (Merchandise and Services combined) for December 2024* is estimated at USD 77.44 Billion, registering a positive growth of 6.40 percent vis-à-vis December 2023.

Table 1: Trade during December 2024*

* Note: The latest data for services sector released by RBI is for November2024. The data for December 2024 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-December 2023 and April-September 2024 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Total Trade during December2024*

• India’s total exports during April-December2024* is estimated at USD 602.64 Billion registering a positive growth of 6.03 percent. Total imports during April-December 2024* is estimated at USD 682.15 Billion registering a growth of 6.91 percent.

Table 2: Trade during April-December 2024*

Fig 2: Total Trade during April-December 2024* 

MERCHANDISE TRADE

• Merchandise exports during December 2024 were USD 38.01 Billion as compared to USD 38.39 Billion in December 2023.
• Merchandise imports during December 2024 were USD 59.95 Billion as compared to USD 57.15 Billion in December 2023.

Fig 3: Merchandise Trade during December 2024

• Merchandise exports during April-December 2024 were USD 321.71 Billion as compared to USD 316.65Billion during April-December 2023.
• Merchandise imports during April-December 2024 were USD 532.48 Billion as compared to USD 506.39 Billion during April-December 2023.
• Merchandise trade deficit during April-December 2024 was USD 210.77 Billion as compared to USD 189.74 Billion during April-December 2023.

Fig4: Merchandise Trade during April-December 2024

• Non-petroleum and non-gems & jewellery exports in December 2024 were USD 30.96Billion compared to USD 28.60Billion in December 2023.
• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in December 2024 were USD 38.28Billion compared to USD 36.86Billion in December 2023.

Table 3: Trade excluding Petroleum and Gems & Jewellery during December 2024

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

Fig 5: Trade excluding Petroleum and Gems & Jewellery during December 2024

• Non-petroleum and non-gems & jewellery exports in April-December 2024 were USD 251.34 Billion, compared to USD 230.43 Billion in April-December 2023.
• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-December 2024 were USD 336.09 Billion, compared to USD 320.63 Billion in April-December 2023.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-December 2024

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

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-December 2024

SERVICES TRADE

• The estimated value of services export for December 2024* is USD 32.66 Billion as compared to USD 31.63Billion in December 2023.
• The estimated value of services imports for December 2024* is USD 17.50 Billion as compared to USD 15.63Billion in December 2023.

Fig 7: Services Trade during December2024*

• The estimated value of service exports during April-December 2024* is USD 280.94 Billion as compared to USD 251.71 Billion in April-December 2023.
• The estimated value of service imports during April-December 2024* is USD 149.67 Billion as compared to USD 131.64 Billion in April-December 2023.
• The services trade surplus for April-December 2024* is USD 131.27 Billion as compared to USD 120.07 Billion in April-December 2023.

Fig 8: Services Trade during April-December 2024*

• Exports ofOther Cereals  (67.89%), Rice (64.03%), Jute Mfg. Including Floor Covering (51.63%), Cashew (45.7%), Coffee (36.88%), Electronic Goods (35.11%), Tobacco (23.96%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (23.4%), Meat, Dairy & Poultry Products (17.87%), Marine Products (15.83%), Handicrafts Excl. Hand Made Carpet (14.9%), Rmg Of All Textiles (12.89%), Man-Made Yarn/Fabs./Made-Ups Etc. (12.53%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (11.98%), Tea (11.26%), Cereal Preparations & Miscellaneous Processed Items (9.57%), Carpet (9.15%), Engineering Goods (8.35%), Ceramic Products & Glassware (8.02%), Plastic & Linoleum (6.02%), Leather & Leather Products (4.28%), Fruits & Vegetables (3.77%), Spices (1.73%) and Drugs & Pharmaceuticals (0.63%) record positive growth during December 2024 over the corresponding month of last year.
• Imports of Coal, Coke & Briquettes, Etc. (-43.42%), Pearls, Precious & Semi-Precious Stones (-42.02%), Iron & Steel (-18.58%), Project Goods (-12.4%), Leather & Leather Products (-12.33%), Newsprint (-9.52%), Artificial Resins, Plastic Materials, Etc. (-3.8%), Transport Equipment (-0.96%), Fertilisers, Crude & Manufactured (-0.89%) and Non-Ferrous Metals (-0.47%) record negative growth during December 2024 over the corresponding month of last year.
• Services exports is estimated to grow by 11.61percent during April-December 2024* over April-December 2023.
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in December 2024 vis a vis December 2023 are U S A (8.49%), Saudi Arab (50.46%), France (67.37%), Bangladesh Pr (33.58%) and Sri Lanka Dsr (83.68%).
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-December 2024 vis a vis April-December 2023 are U S A (5.57%), Netherland (14.71%), U Arab Emts (8.87%), Singapore (16.45%) and U K (14.08%).
• Top 5 import sources, in terms of change in value, exhibiting growth in December 2024 vis a vis December 2023 are China P Rp (9.14%), Switzerland (85.65%), Thailand (71.7%), Germany (28.63%) and U S A (9.88%).
• Top 5 import sources, in terms of change in value, exhibiting growth in April-December 2024 vis a vis April-December2023 are U Arab Emts (37.08%), China P Rp (9.38%), Russia (8.32%), Taiwan (41.7%) and Thailand (22.46%).

*Link for Quick Estimates

***

AD/CNAN