The cumulative exports (merchandise & services) during April-July 2025 is estimated at US$ 277.63 Billion, as compared to US$ 263.83 Billion in April-July 2024, an estimated growth of 5.23%.
The cumulative exports (merchandise & services) during April-July 2025 is estimated at US$ 277.63 Billion, as compared to US$ 263.83 Billion in April-July 2024, an estimated growth of 5.23%.
July 2025
April-July 2025
Table 1: Trade during July 2025*
July 2025
(US$ Billion)
July 2024
(US$ Billion)
Merchandise
Exports
37.24
34.71
Imports
64.59
59.48
Services*
Exports
31.03
30.60
Imports
15.40
15.94
Total Trade
(Merchandise +Services) *
Exports
68.27
65.31
Imports
79.99
75.41
Trade Balance
-11.72
-10.10
* Note: The latest data for services sector released by RBI is for June 2025. The data for July 2025 is an estimation, which will be revised based on RBI’s subsequent release.
Fig 1: Total Trade during July 2025*
Table 2: Trade during April-July 2025*
April-July 2025
(US$ Billion)
April-July 2024
(US$ Billion)
Merchandise
Exports
149.20
144.76
Imports
244.01
231.59
Services*
Exports
128.43
119.07
Imports
64.90
64.72
Total Trade
(Merchandise +Services) *
Exports
277.63
263.83
Imports
308.91
296.32
Trade Balance
-31.28
-32.48
Fig 2: Total Trade during April-July 2025*
MERCHANDISE TRADE
Fig 3: Merchandise Trade during July 2025
Fig 4: Merchandise Trade during April-July 2025
Table 3: Trade excluding Petroleum and Gems & Jewellery during July 2025
(US$ Billion)
July 2024
(US$ Billion)
Non- petroleum exports
32.90
28.92
Non- petroleum imports
49.01
44.98
Non-petroleum & Non-Gems & Jewellery exports
30.51
27.06
Non-petroleum & Non-Gems & Jewellery imports
42.79
40.04
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during July 2025
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-July 2025
(US$ Billion)
April-July 2024
(US$ Billion)
Non- petroleum exports
127.46
118.34
Non- petroleum imports
179.18
165.57
Non-petroleum & Non Gems & Jewellery exports
118.40
109.22
Non-petroleum & Non Gems & Jewellery imports
159.80
146.61
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-July 2025
SERVICES TRADE
Fig 7: Services Trade during July 2025*
Fig 8: Services Trade during April-July 2025*
