India’s total exports, including merchandise and services, are estimated at USD 73.99 billion in November 2025, registering a sharp growth of 15.52 per cent compared to the same month last year, according to data released by the Ministry of Commerce and Industry. Total imports during the month stood at USD 80.63 billion, marginally lower by 0.60 per cent year-on-year, leading to a significant narrowing of the trade deficit.
The overall trade deficit for November 2025 declined to USD 6.64 billion from USD 17.06 billion in November 2024, reflecting improved export performance and moderated imports.
Merchandise exports rose to USD 38.13 billion in November 2025 from USD 31.94 billion a year earlier, while merchandise imports eased to USD 62.66 billion compared to USD 63.87 billion in November 2024. Services exports were estimated at USD 35.86 billion during the month, up from USD 32.11 billion last year, while services imports increased slightly to USD 17.96 billion.
During the April–November 2025 period, India’s cumulative exports are estimated at USD 562.13 billion, marking a growth of 5.43 per cent over USD 533.16 billion recorded in the corresponding period of the previous year. Total imports during this period stood at USD 651.13 billion, reflecting a growth of about 5 per cent. The cumulative trade deficit during April–November 2025 was estimated at USD 89 billion.
