India's merchandise trade deficit rises 30.37% to $32.15 bn; exports up 6.75%, imports up 16.7% in Sept (YoY)

New Delhi [India], October 15 : India's merchandise export in September was up 6.75 per cent at USD 36.38 billion compared to USD 34.08 billion on a year-on-year (YoY) basis, according to the data released by the Ministry of Commerce and Industry on Wednesday.
However, merchandise imports increased by 16.7 per cent to USD 68.53 billion, compared to USD 58.74 billion on a year-over-year basis, according to the data.
This translates into a trade deficit going up by 30.37 per cent at USD 24.66 billion compared to USD 32.15 billion YoY.
On a monthly basis with the estimated services data, India's trade deficit (merchandise and services combined) widened to USD 16.61 billion in September 2025, compared to USD 8.60 billion in the same month last year, according to data released by the ministry.
However, the Commerce Ministry clarifies that since the September data for the services sector has not been released by the RBI so far, the data for September 2025 released by the Commerce Ministry is an estimate, based on the August services trade data.
The data reveals that India's total exports, which comprise merchandise and services, stood at USD 67.20 billion, a slight increase from USD 66.68 billion in September 2024.
However, imports saw a sharper rise, increasing to USD 83.82 billion from USD 75.28 billion in the same period last year.
The growing gap between exports and imports contributed to the significant increase in the trade deficit.
According to the data, imports of gold, silver, fertiliser and electronics have seen an increase.
Speaking on the data, Commerce Secretary Rajesh Agrawal said, "In 1st 6 months of this financial year, India achieved a total export of USD 413.30 bn as against 1st 6th months of last year, registering a growth of 4.5 per cent."

Speaking on the growth prospects, the Commerce Secretary said that the industry has been resilient, "the supply chain has been maintained. We are doing better."
The widening gap between exports and imports highlights the continued demand for imported goods and services, even as India's outbound shipments demonstrate resilience amid global economic uncertainties.