The commerce ministry in its latest data has showed that India’s merchandise exports rebounded by 19.37 per cent year on year to $38.13 billion in November 2025 after contracting in October 2025, driven by higher shipments of engineering and electronics goods. Merchandise exports stood at $31.94 billion during November 2024. The country's imports fell by 1.88 per cent to $62.66 billion in November 2025 as compared to $63.87 billion in November 2024, due to a fall in the inbound shipments of gold, crude oil, coal, and coke during the month under review. The dip in imports also helped bring down the trade deficit (difference between imports and exports) to a five-month low of $24.53 billion. The previous low was $18.78 billion in June 2025. The trade deficit stood at a record $41.68 billion in October.
According to the data, cumulatively, merchandise exports were up 2.62 per cent to $292.07 billion during April-November 2025 as compared to $284.60 billion during April-November 2024. Merchandise imports rose by 5.59 per cent to $515.21 billion during April-November 2025 as compared to $487.93 billion during April-November 2024. Merchandise trade deficit during April-November 2025 was $223.13 billion as compared to $203.33 billion during April-November 2024.
Non-petroleum and non-gems & jewellery exports in November 2025 were $31.56 billion as compared to $26.35 billion in November 2024. Non-petroleum and non-gems & jewellery exports in April-November 2025 were $234.94 billion as compared to $220.76 billion in April-November 2024. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in November 2025 were $41.61 Billion as compared to $36.67 Billion in November 2024. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-November 2025 were $329.36 billion as compared to $301.23 billion in April-November 2024.
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