India's Trade Performance: April-August 2026-27

India's Ministry of Commerce & Industry reported strong trade performance for the period April-August 2026-27. The cumulative exports (merchandise and services combined) reached US$ 399.27 Billion, showing significant growth of 15.55% compared to US$ 345.55 Billion in the same period of 2025-26. Total imports during this period were estimated at US$ 459.65 Billion, registering an 18.01% growth from US$ 389.49 Billion in April-August 2025-26, resulting in an overall trade deficit of US$ 60.38 Billion, which widened from US$ 43.94 Billion in the previous year.

Merchandise Trade Details

Merchandise exports showed robust performance with cumulative value of US$ 215.91 Billion during April-August 2026-27, representing a 17.85% increase from US$ 183.21 Billion in the corresponding period last year. Merchandise imports reached US$ 363.00 Billion, up from US$ 307.09 Billion, resulting in a merchandise trade deficit of US$ 147.09 Billion compared to US$ 123.88 Billion in April-August 2025-26.

Non-petroleum exports were particularly strong at US$ 180.61 Billion, registering a 14.39% growth from US$ 157.89 Billion. When excluding both petroleum and gems & jewellery, exports stood at US$ 168.69 Billion compared to US$ 146.52 Billion in the previous year.

August 2026 Monthly Performance

For August 2026 specifically, total exports (merchandise and services) were estimated at US$ 82.68 Billion, showing a 25.41% growth compared to August 2025. Total imports for the month were US$ 92.09 Billion, growing 18.75% year-on-year, resulting in a trade deficit of US$ 9.41 Billion, which improved from US$ 11.62 Billion in August 2025.

Merchandise exports in August 2026 reached US$ 43.81 Billion (up from US$ 34.74 Billion), while merchandise imports were US$ 70.67 Billion (up from US$ 61.96 Billion). Non-petroleum exports for the month were US$ 37.00 Billion, and non-petroleum, non-gems & jewellery exports stood at US$ 34.68 Billion.

Sectoral Performance Drivers

Several sectors drove the export growth in August 2026. Electronic Goods exports surged by 89.82% from US$ 2.93 Billion to US$ 5.55 Billion. Petroleum Products exports grew by 63.27% from US$ 4.17 Billion to US$ 6.81 Billion. Engineering Goods exports increased by 24.86% from US$ 9.87 Billion to US$ 12.32 Billion. Organic & Inorganic Chemicals exports rose by 16.38% from US$ 2.41 Billion to US$ 2.80 Billion, while Cotton Yarn/Fabrics/Made-ups and Handloom Products exports grew by 13.79% from US$ 0.99 Billion to US$ 1.12 Billion.

Other sectors showing positive growth included Iron Ore (126.3%), Meat, Dairy & Poultry Products (37.08%), Handicrafts excluding Hand Made Carpet (29.63%), Marine Products (27.76%), Plastic & Linoleum (18.92%), Coffee (17.08%), and several others with single-digit growth percentages.

Services Trade Performance

Services exports for April-August 2026-27 were estimated at US$ 183.36 Billion, showing 12.95% growth from US$ 162.34 Billion in the previous year. Services imports were estimated at US$ 96.65 Billion compared to US$ 82.40 Billion, resulting in a services trade surplus of US$ 86.71 Billion, which increased from US$ 79.94 Billion in April-August 2025-26.

For August 2026 alone, services exports were estimated at US$ 38.87 Billion (up from US$ 31.19 Billion) and services imports at US$ 21.42 Billion (up from US$ 15.59 Billion).

Geographical Trade Patterns

The data revealed significant shifts in trade partnerships. Top export destinations showing positive growth in August 2026 included Spain (196.47%), Tanzania Rep (214.52%), Singapore (160.96%), China P Rp (52.35%), and U S A (21.83%). For the cumulative April-August period, Singapore (96.56%), Tanzania Rep (129%), Malaysia (75.4%), China P Rp (38.71%), and U S A (6.17%) were the top performers.

On the import side, top sources showing growth in August 2026 were Oman (157.45%), Taiwan (108.31%), U S A (65.78%), Russia (43.82%), and China P Rp (17.07%). For the cumulative period, Oman (190.63%), Brazil (159.83%), Russia (56.69%), U S A (29.6%), and China P Rp (27.01%) led the growth.

Import Trends

Some import categories showed negative growth in August 2026, including Gold (-57.75%), Pulp And Waste Paper (-13.83%), Iron & Steel (-11.69%), Newsprint (-10.85%), Textile Yarn Fabric and Made-Up Articles (-8.12%), Medicinal & Pharmaceutical Products (-7.9%), and several others with smaller declines.