Top 5 export and import destinations

India’s top five export destinations, in terms of change in value, exhibiting positive growth in May 2025 vis a vis May 2024 were USA (16.93%), China (25.04%), Australia (35.36%), Russia (48.11%), and Germany (17.05%). Top five import sources were China (21.61%), UAE (27.64%), Nigeria (89.56%), Hong Kong (29.3%), and Japan (24.32%).

Palazhi Ashok Kumar mumbai

India’s trade deficit narrowed to $21.88 billion in May 2025 from the $26.42 billion recorded in April. The cumulative trade deficit for April–May 2025, however, widened slightly to $17.14 billion from $15.12 billion in the same period last year. Merchandise exports during May 2025 stood lower at $38.73 billion as compared to $39.59 billion in May 2024. Merchandise imports during May 2025 were $60.61 billion as compared to $61.68 billion in May 2024, according to data released by the Ministry of Commerce and Industry on Monday.

Prudent macroeconomic policies, ambitious and growth-friendly fiscal consolidation, and immense interconnectedness with global markets will reduce India’s trade deficit risks, and create the required space needed to deal with shocks and challenges, and remain resilient. Total exports (merchandise and services combined) for May 2025 is estimated at $71.12 billion, registering a positive growth of 2.77% vis-à-vis May 2024.

Total imports (merchandise and services combined) for May 2025 is estimated at $77.75 billion, registering a negative growth of (-) 1.02% vis-à-vis May 2024. The county’s total exports during April-May 2025 is estimated at $142.43 billion as compared to $134.69 billion in April-May 2024, registering a positive growth of 5.75%. Total imports during April-May 2025 is estimated at $159.57 billion registering a growth of 6.52%. The cumulative value of merchandise exports during April-May 2025 was $77.19 billion, as compared to $74.89 billion during April-May 2024, registering a positive growth of 3.07%.

Merchandise imports during April-May 2025 were $125.52 billion as compared to $116.16 billion during April-May 2024. Merchandise trade deficit during April-May 2025 was $48.33 billion as compared to $41.27 billion during April-May 2024. The cumulative non-petroleum exports in April-May 2025 valued at $64.25 billion registered an increase of 7.53% as compared to $59.75 billion in April-May 2024. Major drivers of merchandise exports growth in May 2025 include electronic goods, organic and inorganic chemicals, drugs and pharmaceuticals, marine products and readymade garments of all textiles.

Electronic goods exports increased by 54.10% from $2.97 billion in May 2024 to $4.57 billion in May 2025. Organic and inorganic chemicals exports increased by 16% from $2.31 billion in May 2024 to $2.68 billion in May this year.