Current Affairs

The cumulative overall exports during April-October 2024 is estimated at USD 468.27Billion, as compared to USD 436.48Billion in April-October 2023, with an estimated growth of 7.28%

The cumulative overall exports during April-October 2024 is estimated at USD 468.27Billion, as compared to USD 436.48Billion in April-October 2023, with an estimated growth of 7.28%

October 2024

April-October 2024

India’s total exports (Merchandise and Services combined) for October 2024* is estimated at USD 73.21 Billion, registering a positive growth of 19.08 percent vis-à-vis October 2023.Total imports (Merchandise and Services combined) for October 2024* is estimated at USD 83.33 Billion, registering a positive growth of 7.77 percent vis-à-vis October 2023.

Table 1: Trade during October 2024*

 

 

October 2024

(USD Billion)

October 2023

(USD Billion)

Merchandise

Exports

39.20

33.43

Imports

66.34

63.86

Services*

Exports

34.02

28.05

Imports

17.00

13.46

Total Trade

(Merchandise +Services) *

Exports

73.21

61.48

Imports

83.33

77.33

Trade Balance

-10.12

-15.85

* Note: The latest data for services sector released by RBI is for September2024. The data for October 2024 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-October 2023 and April-June 2024 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Total Trade during October2024*

 

India’s total exports during April-October2024* is estimated at USD 468.27 Billion registering a positive growth of 7.28 percent. Total imports during April-October 2024* is estimated at USD 531.51 Billion registering a growth of 7.05 percent.

Table 2: Trade during April-October 2024*

 

 

April-October 2024

(USD Billion)

April-October 2023

(USD Billion)

Merchandise

Exports

252.28

244.51

Imports

416.93

394.18

Services*

Exports

215.98

191.97

Imports

114.57

102.32

Total Trade

(Merchandise +Services) *

Exports

468.27

436.48

Imports

531.51

496.50

Trade Balance

-63.24

-60.02

 

Fig 2: Total Trade during April-October 2024*

          

MERCHANDISE TRADE

 

Fig 3: Merchandise Trade during October 2024

Fig4: Merchandise Trade during April-October 2024

 

Table 3: Trade excluding Petroleum and Gems & Jewellery during October 2024

 

(USD Billion)

October 2023

(USD Billion)

Non- petroleum exports

34.61

27.55

Non- petroleum imports

48.04

47.72

Non-petroleum & Non-Gems & Jewellery exports

31.36

24.56

Non-petroleum & Non-Gems & Jewellery imports

39.21

37.23

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during October 2024

 

 

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-October 2024

 

(USD Billion)

April-October 2023

(USD Billion)

Non- petroleum exports

211.34

196.88

Non- petroleum imports

309.78

294.08

Non-petroleum &Non Gems& Jewellery exports

194.17

178.28

Non-petroleum & Non Gems & Jewellery imports

261.92

248.57

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

 

Fig 6: Trade excluding Petroleum and Gems &Jewellery during April-October 2024

 

 

 

 

 

SERVICES TRADE

 

Fig 7: Services Trade during October2024*

 

Fig 8: Services Trade during April-October 2024*

*Link for Quick Estimates

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