India’s total exports of merchandise and services rose 13.31 per cent year-on-year to USD 80.14 billion in July 2026, compared with USD 70.72 billion in the same month last year, according to the latest data released by the Ministry of Commerce and Industry.
Total imports during the month also increased by 15.83 per cent to USD 95.16 billion from USD 82.16 billion in July 2025. The overall trade deficit stood at USD 15.03 billion, compared with USD 11.43 billion a year earlier.
Merchandise exports recorded strong growth of 19.63 per cent, rising to USD 44.24 billion in July 2026 from USD 36.98 billion in July 2025.
Services exports were estimated at USD 35.89 billion during the month, compared with USD 33.74 billion a year earlier. The services data for July is an estimate, as the latest services-sector data released by the Reserve Bank of India is for June 2026.
During April-July 2026-27, India’s total exports of merchandise and services are estimated at USD 316.42 billion, registering a growth of 13.16 per cent over USD 279.63 billion in the corresponding period of 2025-26.
Total imports during the four-month period rose 17.28 per cent to USD 365.85 billion, compared with USD 311.94 billion a year earlier. The cumulative trade deficit stood at USD 49.43 billion.
Merchandise exports during April-July 2026-27 increased 17.04 per cent to USD 173.78 billion from USD 148.48 billion in the corresponding period last year.
Non-petroleum exports also recorded growth, rising 12.79 per cent to USD 143.61 billion during the April-July period from USD 127.32 billion a year earlier.
Petroleum, electronics drive merchandise exports
Several major export sectors registered significant growth in July.
Petroleum product exports increased 67.64 per cent to USD 6.92 billion from USD 4.13 billion in July 2025.
Electronic goods exports rose 57.40 per cent to USD 5.92 billion from USD 3.76 billion, while engineering goods exports increased 17.71 per cent to USD 12.24 billion.
Exports of organic and inorganic chemicals grew 14.39 per cent to USD 2.80 billion, while cotton yarn, fabrics, made-ups and handloom products increased 8.40 per cent to USD 1.11 billion.
Iron ore exports recorded the highest growth among the major categories at 78.35 per cent, followed by petroleum products, electronic goods, meat, dairy and poultry products, cashew and marine products.
Exports of drugs and pharmaceuticals and man-made yarn, fabrics and made-ups also recorded marginal growth during the month.
Services exports maintain positive momentum
Services exports during April-July 2026-27 are estimated at USD 142.64 billion, compared with USD 131.15 billion in the same period of 2025-26.
Services imports stood at USD 73.47 billion, resulting in a services trade surplus of USD 69.17 billion, compared with USD 64.35 billion a year earlier.
The government said services exports registered an estimated growth of 6.38 per cent during the April-July period.
Among India’s major export destinations, the United States, China, Singapore, Kenya and Malaysia recorded positive growth in July.
For April-July 2026-27, Singapore, China, Tanzania, South Africa and Sri Lanka were among the major destinations registering significant increases in export value.
On the import side, Russia, China, Oman, Taiwan and the United States recorded growth in July, while Russia, China, Oman, the United States and Brazil registered higher import values during April-July.
