New Delhi, August 13: India’s total exports of merchandise and services are estimated to have risen 13.16% to US$316.42 billion during April-July 2026-27, compared with US$279.63 billion in the corresponding period of 2025-26, according to data released by the Ministry of Commerce and Industry.
Total imports during the four-month period increased by 17.28% to US$365.85 billion, resulting in an overall trade deficit of US$49.43 billion, compared with US$32.32 billion a year earlier.
Merchandise exports grow 17.04%
Merchandise exports recorded stronger growth, increasing 17.04% to US$173.78 billion during April-July 2026-27 from US$148.48 billion in the same period last year.
Merchandise imports, however, rose to US$292.38 billion from US$245.14 billion, pushing the merchandise trade deficit to US$118.60 billion, against US$96.66 billion in April-July 2025-26.
Non-petroleum exports also maintained strong momentum, rising 12.79% to US$143.61 billion from US$127.32 billion.
July exports rise 13.31%
In July alone, India’s combined merchandise and services exports are estimated at US$80.14 billion, up 13.31% from US$70.72 billion in July 2025.
Total imports rose 15.83% to US$95.16 billion, compared with US$82.16 billion a year earlier. The overall trade deficit consequently widened to US$15.03 billion from US$11.43 billion.
Merchandise exports increased from US$36.98 billion in July 2025 to US$44.24 billion in July 2026, while merchandise imports rose from US$64.86 billion to US$76.22 billion.
Petroleum, electronics drive merchandise exports
Several major export sectors recorded substantial growth during July.
Petroleum products exports surged 67.64%, rising from US$4.13 billion in July 2025 to US$6.92 billion in July 2026.
Electronic goods exports increased 57.40%, from US$3.76 billion to US$5.92 billion, while engineering goods exports rose 17.71%, from US$10.40 billion to US$12.24 billion.
Exports of organic and inorganic chemicals increased 14.39%, from US$2.45 billion to US$2.80 billion. Cotton yarn, fabrics, made-ups and handloom products registered 8.40% growth, reaching US$1.11 billion from US$1.02 billion.
Iron ore exports recorded the highest growth among the major listed commodities at 78.35%, followed by petroleum products, electronic goods and meat, dairy and poultry products, which grew 40.84%.
Services exports continue to expand
Services exports for July 2026 are estimated at US$35.89 billion, compared with US$33.74 billion in July 2025. Services imports stood at US$18.94 billion, up from US$17.30 billion.
During April-July, services exports are estimated at US$142.64 billion, compared with US$131.15 billion a year earlier, while services imports increased to US$73.47 billion from US$66.81 billion.
The services trade surplus consequently stood at US$69.17 billion, compared with US$64.35 billion in April-July 2025-26.
US remains top export destination
The United States remained among the leading destinations for Indian exports, with exports to the country rising 12.85% in July 2026 compared with July 2025.
Other major destinations recording strong growth during July included China (64.57%), Singapore (83.70%), Kenya (151.41%) and Malaysia (73.03%).
For the April-July period, exports to Singapore increased 97.11%, China 35.97%, Tanzania 131.20%, South Africa 69.75% and Sri Lanka 111.76%.
On the import side, Russia, China, Oman, Taiwan and the United States recorded strong growth in July, while Russia, China, Oman, the US and Brazil were among the leading sources of increased imports during April-July.
The Ministry noted that the July 2026 services figures are estimates, as the latest services-sector data released by the Reserve Bank of India cover June 2026. It also said April-July 2025-26 services data had been revised on a pro-rata basis using quarterly balance-of-payments data.
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