Merchandise exports grow 1.84% to US$ 402.93 billion in April–February 2025–26
NEW DELHI : India’s total exports of merchandise and services recorded steady growth during the current financial year, reaching $790.86 billion in April-February 2025-26, marking a 5.79 per cent increase over $747.58 billion during the same period last year, according to data released by the Ministry of Commerce and Industry.
The growth was driven by strong performance in sectors such as engineering goods, electronics, chemicals, gems and jewellery, and agri-based products.
Merchandise exports see moderate rise
India’s merchandise exports during April-February FY26 stood at $402.93 billion, compared with $395.66 billion in the corresponding period of FY25, registering 1.84 per cent growth.
Non-petroleum exports also showed improvement, rising to $354.12 billion during the period, up 5.03 per cent from $337.17 billion in the previous year.
However, merchandise imports increased to $713.53 billion, resulting in a merchandise trade deficit of $310.60 billion, higher than $261.80 billion recorded during April-February 2024-25.
February trade data
For February 2026, India’s total exports (merchandise and services combined) were estimated at $76.13 billion, reflecting 11.05 per cent growth compared with February 2025.
Total imports during the month stood at $80.09 billion, registering a 21.64 per cent increase year-on-year.
Merchandise exports in February were $36.61 billion, slightly lower than $36.91 billion in February 2025, while imports rose to $63.71 billion from $51.33 billion in the same month last year.
Services exports continue strong growth
India’s services sector continued to support overall export growth.
Services exports are estimated at $39.53 billion in February 2026, up from $31.65 billion in February 2025.
During April-February FY26, services exports reached $387.93 billion, compared to $351.93 billion in the same period of the previous year. Services imports were estimated at $186.98 billion, resulting in a services trade surplus of $200.96 billion, significantly higher than $170.69 billion in April-February 2024-25.
Key sectors driving export growth
Several sectors registered strong growth in February 2026 compared to the same month last year.
Among the major contributors were:
- Engineering goods exports, which rose 12.9 per cent from $9.17 billion to $10.36 billion
- Electronic goods exports, up 10.37 per cent from $3.79 billion to $4.18 billion
- Organic and inorganic chemicals, which grew 6.85 per cent from $2.23 billion to $2.38 billion
- Gems and jewellery, rising 4.08 per cent from $2.53 billion to $2.64 billion
- Meat, dairy and poultry products, recording 22.66 per cent growth from $0.45 billion to $0.55 billion
Other sectors showing positive growth included coffee, marine products, handicrafts, minerals, ceramic products, pharmaceuticals, fruits and vegetables, cereal preparations, and rice.
Trade excluding petroleum and gems
Exports excluding petroleum and gems & jewellery stood at $30.55 billion in February 2026, compared to $28.66 billion in February 2025.
For April-February FY26, non-petroleum and non-gems exports reached $327.96 billion, up from $310.25 billion in the same period last year.
Key trading partners
Major export destinations showing significant growth in February included China, Hong Kong, Vietnam, Togo and Sri Lanka.
During April-February FY26, exports to the United States, United Arab Emirates, Spain, and Hong Kong also recorded notable growth.
On the import side, major sources showing higher growth included China, Switzerland, the United Kingdom, the United States and Peru.