[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · IND · 2024
India trade profile
In 2024, India recorded $434.2B in merchandise exports and $655.6B in imports, producing a $221.5B trade deficit. Exports changed -0.5% from the previous year, while imports changed +3.1%.[1]
Exports
$434.2B
-0.5%
Imports
$655.6B
+3.1%
Trade balance
-$221.5B
deficit
Active partners
270
23 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$62.4B
HS 27 · Mineral fuels and oils
43 active HS6 lines · 177 export partners
2$43.1B
HS 85 · Electrical machinery
262 active HS6 lines · 195 export partners
3$32.8B
HS 71 · Precious metals and stones
51 active HS6 lines · 172 export partners
4$31.5B
HS 84 · Machinery
515 active HS6 lines · 196 export partners
5$26.2B
HS 30 · Pharmaceutical products
43 active HS6 lines · 197 export partners
6$24.7B
HS 29 · Organic chemicals
381 active HS6 lines · 188 export partners
7$22.3B
HS 87 · Vehicles
87 active HS6 lines · 192 export partners
8$11.8B
HS 10 · Cereals
26 active HS6 lines · 180 export partners
Leading export markets
Destinations rank bilateral export flows from India; growth describes each corridor rather than the whole economy.
1$82.2B
United States
Annual change +4.8% · 3-year CAGR 4.6%
2$32.0B
United Arab Emirates
Annual change -3.4% · 3-year CAGR 4.0%
3$16.4B
China
Annual change -6.7% · 3-year CAGR -14.5%
4$15.0B
Netherlands
Annual change +10.6% · 3-year CAGR 27.8%
5$14.1B
United Kingdom
Annual change +7.1% · 3-year CAGR 9.9%
6$12.7B
Germany
Annual change -2.2% · 3-year CAGR 4.4%
7$12.3B
Saudi Arabia
Annual change +11.9% · 3-year CAGR 14.6%
8$11.7B
Singapore
Annual change +25.9% · 3-year CAGR 8.9%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.