Trade Tensions: Analyzing India's December Export-Import Dynamics

In December 2024, India's merchandise exports slightly declined to USD 38.01 billion while imports grew by 4.8% to USD 59.95 billion, resulting in a trade deficit of USD 21.94 billion. Throughout April to December, exports rose by 1.6% and imports by 5.15%.

India's trade landscape experienced a shift in December 2024, as merchandise exports saw a slight decline of around one percent, reaching USD 38.01 billion compared to USD 38.39 billion in the previous year, according to figures released by the government on Wednesday.

Despite the dip in exports, imports surged by 4.8 percent, reaching USD 59.95 billion as opposed to USD 57.15 billion in December 2023. This increase has widened the trade deficit to USD 21.94 billion for the month under review.

Throughout the first nine months of the fiscal year, from April to December, exports showed a modest increase of 1.6 percent, amounting to USD 321.71 billion, while imports grew more significantly by 5.15 percent, totaling USD 532.48 billion.

(With inputs from agencies.)