Major drivers of merchandise exports growth in December 2024 include Electronic Goods, Engineering Goods, Rice, RMG of all Textiles and Cotton Yarn
NEW DELHI : India’s total exports (Merchandise and Services combined) for December 2024* is estimated at USD 70.67 Billion, registering a positive growth of 0.92 percent vis-à-vis December 2023.Total imports (Merchandise and Services combined) for December 2024* is estimated at USD 77.44 Billion, registering a positive growth of 6.40 percent vis-à-vis December 2023.
Fig 1: Total Trade during December2024*
- India’s total exports during April-December2024* is estimated at USD 602.64 Billion registering a positive growth of 6.03 percent. Total imports during April-December 2024* is estimated at USD 682.15 Billion registering a growth of 6.91 percent.
MERCHANDISE TRADE
- Merchandise exports during December 2024 were USD 38.01 Billion as compared to USD 38.39 Billion in December 2023.
- Merchandise imports during December 2024 were USD 59.95 Billion as compared to USD 57.15 Billion in December 2023.
Fig 3: Merchandise Trade during December 2024
- Merchandise exports during April-December 2024 were USD 321.71 Billion as compared to USD 316.65Billion during April-December 2023.
- Merchandise imports during April-December 2024 were USD 532.48 Billion as compared to USD 506.39 Billion during April-December 2023.
- Merchandise trade deficit during April-December 2024 was USD 210.77 Billion as compared to USD 189.74 Billion during April-December 2023.
Fig4: Merchandise Trade during April-December 2024
- Non-petroleum and non-gems & jewellery exports in December 2024 were USD 30.96Billion compared to USD 28.60Billion in December 2023.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in December 2024 were USD 38.28Billion compared to USD 36.86Billion in December 2023.
Table 3: Trade excluding Petroleum and Gems & Jewellery during December 2024
| December 2024(USD Billion) | December 2023(USD Billion) | |
| Non- petroleum exports | 33.09 | 31.50 |
| Non- petroleum imports | 44.68 | 42.21 |
| Non-petroleum & Non-Gems & Jewellery exports | 30.96 | 28.60 |
| Non-petroleum & Non-Gems & Jewellery imports | 38.28 | 36.86 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 5: Trade excluding Petroleum and Gems & Jewellery during December 2024
- Non-petroleum and non-gems & jewellery exports in April-December 2024 were USD 251.34 Billion, compared to USD 230.43 Billion in April-December 2023.
- Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-December 2024 were USD 336.09 Billion, compared to USD 320.63 Billion in April-December 2023.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-December 2024
| April-December 2024(USD Billion) | April-December 2023(USD Billion) | |
| Non- petroleum exports | 272.70 | 254.74 |
| Non- petroleum imports | 394.17 | 376.42 |
| Non-petroleum &Non Gems& Jewellery exports | 251.34 | 230.43 |
| Non-petroleum & Non Gems & Jewellery imports | 336.09 | 320.63 |
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-December 2024
SERVICES TRADE
- The estimated value of services export for December 2024* is USD 32.66 Billion as compared to USD 31.63Billion in December 2023.
- The estimated value of services imports for December 2024* is USD 17.50 Billion as compared to USD 15.63Billion in December 2023.
Fig 7: Services Trade during December2024*
- The estimated value of service exports during April-December 2024* is USD 280.94 Billion as compared to USD 251.71 Billion in April-December 2023.
- The estimated value of service imports during April-December 2024* is USD 149.67 Billion as compared to USD 131.64 Billion in April-December 2023.
- The services trade surplus for April-December 2024* is USD 131.27 Billion as compared to USD 120.07 Billion in April-December 2023.
Fig 8: Services Trade during April-December 2024*
- Exports ofOther Cereals (67.89%), Rice (64.03%), Jute Mfg. Including Floor Covering (51.63%), Cashew (45.7%), Coffee (36.88%), Electronic Goods (35.11%), Tobacco (23.96%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (23.4%), Meat, Dairy & Poultry Products (17.87%), Marine Products (15.83%), Handicrafts Excl. Hand Made Carpet (14.9%), Rmg Of All Textiles (12.89%), Man-Made Yarn/Fabs./Made-Ups Etc. (12.53%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (11.98%), Tea (11.26%), Cereal Preparations & Miscellaneous Processed Items (9.57%), Carpet (9.15%), Engineering Goods (8.35%), Ceramic Products & Glassware (8.02%), Plastic & Linoleum (6.02%), Leather & Leather Products (4.28%), Fruits & Vegetables (3.77%), Spices (1.73%) and Drugs & Pharmaceuticals (0.63%) record positive growth during December 2024 over the corresponding month of last year.
- Imports of Coal, Coke & Briquettes, Etc. (-43.42%), Pearls, Precious & Semi-Precious Stones (-42.02%), Iron & Steel (-18.58%), Project Goods (-12.4%), Leather & Leather Products (-12.33%), Newsprint (-9.52%), Artificial Resins, Plastic Materials, Etc. (-3.8%), Transport Equipment (-0.96%), Fertilisers, Crude & Manufactured (-0.89%) and Non-Ferrous Metals (-0.47%) record negative growth during December 2024 over the corresponding month of last year.
- Services exports is estimated to grow by 11.61percent during April-December 2024* over April-December 2023.
- Top 5 export destinations, in terms of change in value, exhibiting positive growth in December 2024 vis a vis December 2023 are U S A (8.49%), Saudi Arab (50.46%), France (67.37%), Bangladesh Pr (33.58%) and Sri Lanka Dsr (83.68%).
- Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-December 2024 vis a vis April-December 2023 are U S A (5.57%), Netherland (14.71%), U Arab Emts (8.87%), Singapore (16.45%) and U K (14.08%).
- Top 5 import sources, in terms of change in value, exhibiting growth in December 2024 vis a vis December 2023 are China P Rp (9.14%), Switzerland (85.65%), Thailand (71.7%), Germany (28.63%) and U S A (9.88%).
- Top 5 import sources, in terms of change in value, exhibiting growth in April-December 2024 vis a vis April-December2023 are U Arab Emts (37.08%), China P Rp (9.38%), Russia (8.32%), Taiwan (41.7%) and Thailand (22.46%).