New Delhi, Mar 17: India’s cumulative exports of merchandise and services during April–February 2025–26 are estimated at US$ 790.86 billion, registering a 5.79 percent growth compared with US$ 747.58 billion during the same period of 2024–25, according to data released by the government on Monday.
The country’s total imports during the same period rose to US$ 900.51 billion, reflecting a growth of 7.37 percent over US$ 838.69 billion recorded in April–February 2024–25, widening the overall trade deficit to US$ 109.64 billion.
February Trade Performance
India’s total exports (merchandise and services combined) in February 2026 were estimated at US$ 76.13 billion, marking an 11.05 percent increase compared to US$ 68.56 billion in February 2025.
Total imports during February 2026 stood at US$ 80.09 billion, registering a 21.64 percent growth from US$ 65.84 billion in February 2025.
The overall trade balance for February 2026 was negative at US$ 3.96 billion, compared with a surplus of US$ 2.72 billion in the corresponding month last year.
Merchandise Trade
Merchandise exports in February 2026 were recorded at US$ 36.61 billion, marginally lower than US$ 36.91 billion in February 2025.
However, merchandise imports rose sharply to US$ 63.71 billion, compared with US$ 51.33 billion during the same month last year.
For the April–February 2025–26 period, merchandise exports reached US$ 402.93 billion, up from US$ 395.66 billion in the previous year, registering a 1.84 percent growth. Merchandise imports during the same period increased to US$ 713.53 billion from US$ 657.46 billion, pushing the merchandise trade deficit to US$ 310.60 billion.
Growth in Non-Petroleum Exports
Non-petroleum exports during April–February 2025–26 were valued at US$ 354.12 billion, reflecting a 5.03 percent increase compared with US$ 337.17 billion during the same period in the previous financial year.
Non-petroleum and non-gems & jewellery exports for the period reached US$ 327.96 billion, up from US$ 310.25 billion in April–February 2024–25.
Key Drivers of Export Growth
Several sectors contributed significantly to export growth in February 2026.
Engineering goods exports increased by 12.90 percent, rising from US$ 9.17 billion in February 2025 to US$ 10.36 billion in February 2026.
Electronic goods exports grew by 10.37 percent, reaching US$ 4.18 billion compared to US$ 3.79 billion a year earlier.
Exports of organic and inorganic chemicals rose by 6.85 percent, while gems and jewellery exports increased by 4.08 percent during the month.
The meat, dairy and poultry products sector recorded the highest growth of 22.66 percent, increasing from US$ 0.45 billion to US$ 0.55 billion year-on-year.
Other sectors showing positive export growth included coffee, marine products, handicrafts, fruits and vegetables, drugs and pharmaceuticals, rice, and cereal preparations.
Services Trade
India’s services exports in February 2026 are estimated at US$ 39.53 billion, up from US$ 31.65 billion in February 2025. Services imports during the month stood at US$ 16.38 billion, compared with US$ 14.51 billion a year earlier.
For the April–February 2025–26 period, services exports reached US$ 387.93 billion, compared with US$ 351.93 billion in the previous year. Services imports were estimated at US$ 186.98 billion, resulting in a services trade surplus of US$ 200.96 billion.
Key Export Destinations
Among major export destinations showing significant growth in February 2026 were China, Hong Kong, Vietnam, Togo, and Sri Lanka.
For the April–February period, exports grew notably to China, the United States, United Arab Emirates, Spain, and Hong Kong.
Major Import Sources
Key import sources registering significant growth in February 2026 included China, Switzerland, United Kingdom, the United States and Peru.
For April–February 2025–26, imports increased mainly from China, the United States, the United Arab Emirates, Hong Kong and Peru.
The data for services for February 2026 are provisional estimates based on the latest available figures from the Reserve Bank of India.
