New Delhi: India’s overseas trade expanded at a double-digit pace in July, with exports crossing $80 billion, though faster growth in imports widened the country’s overall trade deficit during the month.
India’s total exports of merchandise and services were estimated at $80.14 billion in July 2026, up 13.31 per cent from $70.72 billion in July 2025, according to data released by the Ministry of Commerce and Industry on Thursday.
Total imports were estimated at $95.16 billion, rising 15.83 per cent from $82.16 billion a year earlier. The combined merchandise and services trade deficit consequently widened to $15.03 billion, compared with $11.43 billion in July 2025.
Merchandise exports increased to $44.24 billion from $36.98 billion in July last year, while merchandise imports climbed to $76.22 billion from $64.86 billion.
Petroleum products recorded one of the sharpest increases among major export categories, rising 67.64 per cent to $6.92 billion from $4.13 billion. Electronic goods exports jumped 57.40 per cent to $5.92 billion from $3.76 billion.
Engineering goods exports increased 17.71 per cent to $12.24 billion, while exports of organic and inorganic chemicals rose 14.39 per cent to $2.80 billion. Cotton yarn, fabrics, made-ups and handloom products recorded 8.40 per cent growth to $1.11 billion.
Exports excluding petroleum and gems and jewellery also increased during the month. Non-petroleum and non-gems and jewellery exports stood at $35 billion, compared with $30.47 billion in July 2025, while corresponding imports rose to $51.82 billion from $43.07 billion.
During the first four months of 2026-27, from April to July, India’s combined merchandise and services exports were estimated at $316.42 billion, an increase of 13.16 per cent from $279.63 billion in the corresponding period of the previous financial year.
Imports during April-July rose 17.28 per cent to $365.85 billion from $311.94 billion. The combined trade deficit for the four-month period widened to $49.43 billion, compared with $32.32 billion a year earlier.
Merchandise exports during April-July increased 17.04 per cent to $173.78 billion from $148.48 billion. Merchandise imports rose to $292.38 billion from $245.14 billion, widening the merchandise trade deficit to $118.60 billion from $96.66 billion.
Non-petroleum exports during the four-month period increased 12.79 per cent to $143.61 billion from $127.32 billion. Excluding petroleum and gems and jewellery, exports rose to $134.02 billion from $118.27 billion.
Services exports for July were estimated at $35.89 billion, compared with $33.74 billion a year earlier, while services imports were estimated at $18.94 billion against $17.30 billion.
The ministry clarified that the latest services-sector data available from the Reserve Bank of India is for June 2026, and the July services figures are therefore estimates.
For April-July, services exports were estimated at $142.64 billion and imports at $73.47 billion, resulting in a services trade surplus of $69.17 billion. The ministry said comparative services data for April-July 2025-26 had been revised on a pro-rata basis using quarterly balance of payments data.
Among markets recording positive export growth, the US, China, Singapore, Kenya and Malaysia were the top five destinations in terms of change in export value during July. On the import side, Russia, China, Oman, Taiwan and the US were the top five sources in terms of increase in value among countries showing positive growth.
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