Overview In March 2024 India exported $41.7B and imported $57.3B, resulting in a negative trade balance of $15.6B. Between March 2023 and March 2024 the exports of India have decreased by $-179M (-0.43%) from $41.9B to $41.7B, while imports decreased by $-2.74B (-4.56%) from $60B to $57.3B.
Trade In March 2024, the top exports of India were Petroleum Products ($5.42B), Drug Formulations, Biologicals ($2.17B), Telecom Instruments ($2.13B), Pearl, Precs, Semiprecs Stones ($1.45B), and Residul Chemicl And Alled Prod ($1.39B). In March 2024 the top imports of India were Petroleum: Crude ($13.2B), Petroleum Products ($4.05B), Coal,co*ke And Briquittes Etc ($3.23B), Electronics Components ($3.09B), and Pearl, Precs, Semiprecs Stones ($2.49B).
Destinations In March 2024, India exported mostly to United States ($7.51B), United Arab Emirates ($4.01B), Netherlands ($2.11B), Singapore ($1.59B), and China ($1.56B), and imported mostly from China ($7.75B), Russia ($5.85B), United Arab Emirates ($4.89B), Iraq ($3.34B), and United States ($3.14B).
Growth In March 2024, the decrease in India's year-by-year exports was explained primarily by an decrease in exports to Netherlands ($-984M or -31.8%), Indonesia ($-550M or -57.1%), and Bangladesh ($-423M or -27%), and product exports decrease in Petroleum Products ($-2.89B or -34.8%), Other Commodities ($-447M or -41.7%), and Pearl, Precs, Semiprecs Stones ($-435M or -23.1%). In March 2024, the decrease in India's year-by-year imports was explained primarily by an decrease in imports from Saudi Arabia ($-1.08B or -28.7%), Switzerland ($-801M or -50.7%), and United States ($-479M or -13.3%), and product imports decrease in Gold ($-1.77B or -53.6%), Pearl, Precs, Semiprecs Stones ($-534M or -17.7%), and Petroleum: Crude ($-448M or -3.28%).
