Economy - Reports
28-Nov-2025 12:16
Global Trade Cools down amid high uncertainty, divergent growth and India's mixed export-import dynamics
From April'October FY26, India maintained steady trade momentum: overall exports rose 4.8% YoY, supported by strong services growth of 9.7% and a sizable services surplus. Merchandise exports improved modestly, with non-petroleum, non-gems, and jewellery categories showing firmer growth. Imports increased 5.7%, driven by robust domestic demand and higher non-petroleum, non-gems, and jewellery inflows, while petroleum imports fell on softer crude prices. The period ended with a trade deficit of USD 78.2 billion.
October 2025 data signalled cooling momentum as merchandise exports fell 11.8% while imports surged 16.6%, largely due to soaring gold and silver inflows amid sharply higher prices. This widened the merchandise deficit to USD 41.7 billion. Even so, services remained a bright spot: exports hit a record USD 38.5 billion, services imports grew moderately, and the monthly services surplus climbed nearly 16%, continuing to cushion overall trade performance.
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