Date: 2026-07-13Category: Press ReleaseState: Union GovernmentCountry: India
The cumulative exports (merchandise & services) during April-June 2026-27 is estimated at US$ 232.73 Billion, as compared to US$ 208.98 Billion in April-June 2025-26, an estimated growth of 11.37%.
**Executive Summary**
This report from the Ministry of Commerce & Industry provides trade estimates for India for June 2026 and the cumulative period of April-June 2026-27. It highlights an 11.37% growth in cumulative exports (US$ 232.73 Billion) alongside a widening trade deficit of US$ 37.42 Billion. The data, released on July 13, 2026, details sectoral drivers, service trade surpluses, and shifting global trade partnerships.
**Key Points / Main Content**
**Cumulative Trade Performance (April-June 2026-27)**
* **Total Exports:** Estimated at US$ 232.73 Billion, reflecting an 11.37% increase compared to the previous year.
* **Total Imports:** Estimated at US$ 270.15 Billion, registering a growth of 17.55%.
* **Overall Trade Balance:** The deficit widened to US$ 37.42 Billion, up from US$ 20.85 Billion in April-June 2025-26.
**Merchandise Trade Highlights**
* **Sectoral Growth:** Cumulative merchandise exports rose by 15.92% to US$ 129.32 Billion.
* **Key Drivers:** Major growth in June 2026 was seen in Gems & Jewellery (34.64%), Engineering Goods (20.74%), Organic & Inorganic Chemicals (19.42%), and Electronic Goods (18.93%).
* **Import Declines:** Significant negative growth was recorded in June 2026 for Project Goods (-85.44%) and Silver (-73.62%).
* **Trade Deficit:** The merchandise deficit for the quarter reached US$ 86.86 Billion.
**Services Trade Highlights**
* **Export Value:** Services exports for the quarter are estimated at US$ 103.41 Billion, a growth of 6.16%.
* **Trade Surplus:** The services sector maintained a surplus of US$ 49.43 Billion for the April-June period.
**Global Trade Partners (June 2026)**
* **Export Destinations:** Top growth destinations included South Africa (114.04%), Singapore (48.91%), and Oman (189.6%).
* **Import Sources:** Highest growth in imports originated from Taiwan (135.03%), Russia (85.02%), and China (40.26%).
**Impact Analysis**
**Merchandise Exporters**
* **Impact:** Strong growth in sectors like Gems & Jewellery and Engineering Goods indicates high international demand and improved competitiveness.
* **Action Required:** Focus on maintaining supply chain efficiency to meet the double-digit growth targets identified in the report.
**Service Sector Providers**
* **Impact:** The sector continues to provide a vital buffer for the national economy, contributing a US$ 49.43 Billion surplus.
* **Action Required:** Leverage the 6.16% growth trend to further expand market share in key destinations like Singapore and Sri Lanka.
**Policy Makers and Economic Analysts**
* **Impact:** While exports are growing, the overall trade deficit has increased significantly due to a 17.55% rise in total imports.
* **Action Required:** Analyze the surge in merchandise imports (US$ 216.18 Billion) to implement measures that balance the widening trade gap.
**Specific Commodity Importers**
* **Impact:** Sharp declines in the import of Project Goods and Silver suggest a shift in industrial or investment demand.
* **Action Required:** Re-evaluate procurement strategies in light of the negative growth recorded in these specific categories.
Key Entities Referenced
Ministry of Commerce & Industry: The primary government body responsible for overseeing India's foreign trade and releasing official merchandise and services export-import data.
Reserve Bank of India (RBI): The central bank of India, identified as the primary source for data and estimations regarding the services sector trade performance.
India: The central nation for which the cumulative trade performance (merchandise and services), growth estimates, and trade balance for the period 2026-27 are reported.
Ministry of Commerce & Industry
The cumulative exports (merchandise & services)
during April-June 2026-27 is estimated at US$
232.73 Billion, as compared to US$ 208.98 Billion
in April-June 2025-26, an estimated growth of
11.37%.
The cumulative value of merchandise exports during April-
June 2026-27 was US$ 129.32 Billion, as compared to US$
111.57 Billion during April-June 2025-26, registering a
positive growth of 15.92%.
The cumulative Non-Petroleum exports in April-June 2026-27
valued at US$ 106.30 Billion registered an increase of 12.44%
as compared to US$ 94.54 Billion in April-June 2025-26.
Major drivers of merchandise exports growth in June 2026
include Gems & Jewellery, Engineering Goods, Organic &
Inorganic Chemicals, Electronic Goods, and Rice
Gems & Jewellery exports increased by 34.64% from US$
1.79 Billion in June 2025 to US$ 2.41 Billion in June 2026.
Engineering Goods exports increased by 20.74% from US$
9.51 Billion in June 2025 to US$ 11.48 Billion in June 2026.
Organic & Inorganic Chemicals exports increased by 19.42%
from US$ 2.32 Billion in June 2025 to US$ 2.77 Billion in June
2026.
Electronic Goods exports increased by 18.93% from US$
4.14 Billion in June 2025 to US$ 4.93 Billion in June 2026.Rice exports increased by 16.48% from US$ 0.86 Billion in
June 2025 to US$ 1.00 Billion in June 2026.
प्रव तथ: 13 JUL 2026 4:16PM by PIB Delhi
India’s total exports (Merchandise and Services combined) for June 2026* is estimated at US$ 73.45
Billion, registering a positive growth of 9.48 percent vis-à-vis June 2025. Total imports (Merchandise
and Services combined) for June 2026* is estimated at US$ 88.76 Billion, registering a positive
growth of 26.85 percent vis-à-vis June 2025.
Table 1: Trade during June 2026*
June 2026 June 2025
(US$ Billion) (US$ Billion)
Merchandise Exports 40.41 34.98
Imports 70.84 54.08
Services* Exports 33.03 32.11
Imports 17.92 15.90
Total Trade Exports 73.45 67.09
(Merchandise +Services) *
Imports 88.76 69.98
Trade Balance -15.32 -2.89
* Note: The latest data for services sector released by RBI is for May 2026. The data for June 2026 is an
estimation. (ii) Data for April-June 2025-26 has been revised on pro-rata basis using quarterly balance of
payments data.
Fig 1: Total Trade during June 2026*India’s total exports during April-June 2026-27* is estimated at US$ 232.73 Billion registering a
positive growth of 11.37 percent. Total imports during April-June 2026-27* is estimated at US$ 270.15
Billion registering a growth of 17.55 percent.
Table 2: Trade during April-June 2026-27*
April-June 2026-27 April-June 2025-26
(US$ Billion) (US$ Billion)
Merchandise Exports 129.32 111.57
Imports 216.18 180.31
Services* Exports 103.41 97.41
Imports 53.97 49.51
Total Trade Exports 232.73 208.98
(Merchandise +Services) *
Imports 270.15 229.82
Trade Balance -37.42 -20.85
Fig 2: Total Trade during April-June 2026-27*MERCHANDISE TRADE
Merchandise exports during June 2026 were US$ 40.41 Billion as compared to US$ 34.98 Billion in
June 2025.
Merchandise imports during June 2026 were US$ 70.84 Billion as compared to US$ 54.08 Billion
in June 2025.
Fig 3: Merchandise Trade during June 2026
Merchandise exports during April-June 2026-27 were US$ 129.32 Billion as compared to US$
111.57 Billion during April-June 2025-26.
Merchandise imports during April-June 2026-27 were US$ 216.18 Billion as compared to US$
180.31 Billion during April-June 2025-26.Merchandise trade deficit during April-June 2026-27 was US$ 86.86Billion as compared to US$
68.75Billion during April-June 2025-26.
Fig 4: Merchandise Trade during April-June 2026-27
Non-petroleum and non-gems & jewellery exports in June 2026 were US$ 33.13 Billion compared
to US$ 28.73 Billion in June 2025.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in June 2026 were
US$ 48.25 Billion compared to US$ 36.73 Billion in June 2025.
Table 3: Trade excluding Petroleum and Gems & Jewellery during June 2026
June 2025 (US$
June 2026
Billion)
(US$ Billion)
Non- petroleum exports 35.54 30.51
Non- petroleum imports 51.52 40.28
Non-petroleum & Non-Gems & Jewellery exports 33.13 28.73
Non-petroleum & Non-Gems & Jewellery imports 48.25 36.73
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during June 2026Non-petroleum and non-gems & jewellery exports in April-June 2026-27 were US$ 99.04 Billion,
compared to US$ 87.88 Billion in April-June 2025-26.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-June 2026-
27 were US$ 140.22 Billion, compared to US$ 117.92 Billion in April-June 2025-26.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-June 2026-27
April-June 2025-26
April-June 2026-27
(US$ Billion)
(US$ Billion)
Non- petroleum exports 106.30 94.54
Non- petroleum imports 155.56 131.07
Non-petroleum & Non Gems & Jewellery 99.04 87.88
exports
Non-petroleum & Non Gems & Jewellery 140.22 117.92
imports
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-June 2026-27SERVICES TRADE
The estimated value of services export for June 2026* is US$ 33.03 Billion as compared to US$
32.11 Billion in June 2025.
The estimated value of services imports for June 2026* is US$ 17.92 Billion as compared to US$
15.90 Billion in June 2025.
Fig 7: Services Trade during June 2026*
The estimated value of service exports during April-June 2026-27* is US$ 103.41 Billion as
compared to US$ 97.41 Billion in April-June 2025-26.
The estimated value of service imports during April-June 2026-27* is US$ 53.97 Billion as
compared to US$ 49.51 Billion in April-June 2025-26.The services trade surplus for April-June 2026-27* is US$ 49.43 Billion as compared to US$ 47.90
Billion in April-June 2025-26.
Fig 8: Services Trade during April-June 2026-27*
Exports of Other Cereals (244.29%), Handicrafts Excl. Hand Made Carpet (59.69%), Meat, Dairy
& Poultry Products (54.63%), Iron Ore (49.97%), Gems & Jewellery (34.64%), Plastic & Linoleum
(21.24%), Engineering Goods (20.74%), Tobacco (19.8%), Organic & Inorganic Chemicals
(19.42%), Electronic Goods (18.93%), Rice (16.48%), Mica, Coal & Other Ores, Minerals
Including Processed Minerals (15.29%), Marine Products (14.48%), Petroleum Products (9.19%),
Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (8.82%), Drugs & Pharmaceuticals (7.13%),
Cereal Preparations & Miscellaneous Processed Items (6.52%), Man-Made Yarn/Fabs./Made-Ups
Etc. (2.83%), and Fruits & Vegetables (1.31%) recorded positive growth during June 2026 over the
corresponding month of last year.
Imports of Project Goods (-85.44%), Silver (-73.62%), Pearls, Precious & Semi-Precious Stones
(-16.83%), Chemical Material & Products (-12.13%), and Vegetable Oil (-2.58%) recorded negative
growth during June 2026 over the corresponding month of last year.
Services exports is estimated to grow by 6.16 percent during April-June 2026-27* over April-June
2025-26.
Top 5 export destinations, in terms of change in value, exhibiting positive growth in June 2026 vis a
vis June 2025 are South Africa (114.04%), Singapore (48.91%), China P Rp (31.49%), Oman
(189.6%), and Malaysia (99.18%).
Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-June
2026-27 vis a vis April-June 2025-26 are Singapore (101.16%), Tanzania Rep (146.89%), South
Africa (76.49%), Sri Lanka Dsr (124.63%), and China P Rp (27.54%).
Top 5 import sources, in terms of change in value, exhibiting growth in June 2026 vis a vis June
2025 are Russia (85.02%), China P Rp (40.26%), U S A (33.86%), U Arab Emts (24.62%), and
Taiwan (135.03%)
Top 5 import sources, in terms of change in value, exhibiting growth in April-June 2026-27 vis a vis
April-June 2025-26 are Russia (52.68%), China P Rp (27.94%), Oman (221.81%), U S A (23.82%),
and Brazil (174.69%).***
Link for Quick Estimtes
Link for Exim Summary : (i) Export (ii) Import (iii) Country wise – Export (iv) Country wise – Imp
ort
Abhishek Dayal/ Abhijith Narayanan / Garima Singh
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