India’s overall exports (Merchandise and Services combined) in January 2024* is estimated to be USD 69.72 Billion, exhibiting a positive growth of 9.28 per cent over January 2023. Overall imports in January 2024* is estimated to be USD 70.46 Billion, exhibiting a positive growth of 4.15 per cent over January 2023.
Table 1: Trade during January 2024*
| January 2024 (USD Billion) | January 2023 (USD Billion) | ||
| Merchandise | Exports | 36.92 | 35.80 |
| Imports | 54.41 | 52.83 | |
| Services* | Exports | 32.80 | 28.00 |
| Imports | 16.05 | 14.83 | |
| Overall Trade (Merchandise +Services) * | Exports | 69.72 | 63.80 |
| Imports | 70.46 | 67.65 | |
| Trade Balance | -0.74 | -3.85 |
* Note: The latest data for services sector released by RBI is for December 2023. The data for January 2024 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-January 2022-23 and April-September 2023 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during January 2024*
- India’s overall exports (Merchandise and Services combined) in April-January2023-24* are estimated to be USD 638.37 Billion, exhibiting a negative growth of (-) 0.19 per cent over April-January 2022-23. Overall imports in April-January 2023-24* are estimated to be USD 708.79 Billion, exhibiting a negative growth of (-) 5.69 per cent over April-January 2022-23.
Table 2: Trade during April-January 2023-24*
| April-January 2023-24 (USD Billion) | April-January 2022-23 (USD Billion) | ||
| Merchandise | Exports | 353.92 | 372.10 |
| Imports | 561.12 | 601.47 | |
| Services* | Exports | 284.45 | 267.50 |
| Imports | 147.68 | 150.11 | |
| Overall Trade (Merchandise+ Services)* | Exports | 638.37 | 639.59 |
| Imports | 708.79 | 751.58 | |
| Trade Balance | -70.43 | -111.99 |
