• India’s total exports (Merchandise and Services combined) for July 2025* is estimated at US$ 68.27 Billion, registering a positive growth of 4.52 percent vis-à-vis July 2024. Total imports (Merchandise and Services combined) for July 2025* is estimated at US$ 79.99 Billion, registering a positive growth of 6.07 percent vis-à-vis July 2024.

Table 1: Trade during July 2025*

* Note: The latest data for services sector released by RBI is for June 2025. The data for July 2025 is an estimation, which will be revised based on RBI’s subsequent release.

Fig 1: Total Trade during July 2025*

• India’s total exports during April-July 2025* is estimated at US$ 277.63 Billion registering a positive growth of 5.23 percent. Total imports during April-July 2025* is estimated at US$ 308.91 Billion registering a growth of 4.25 percent.

Table 2: Trade during April-July 2025*

Fig 2: Total Trade during April-July 2025*          

MERCHANDISE TRADE

• Merchandise exports during July 2025 were US$ 37.24 Billion as compared to US$ 34.71 Billion in July 2024.
• Merchandise imports during July 2025 were US$ 64.59 Billion as compared to US$ 59.48 Billion in July 2024.

Fig 3: Merchandise Trade during July 2025

• Merchandise exports during April-July 2025 were US$ 149.20 Billion as compared to US$ 144.76 Billion during April-July 2024.
• Merchandise imports during April-July 2025 were US$ 244.01 Billion as compared to US$ 231.59 Billion during April-July 2024.
• Merchandise trade deficit during April-July 2025 was US$ 94.80 Billion as compared to US$ 86.83 Billion during April-July 2024.

Fig 4: Merchandise Trade during April-July 2025

• Non-petroleum and non-gems & jewellery exports in July 2025 were US$ 30.51 Billion compared to US$ 27.06 Billion in July 2024.
• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in July 2025 were US$ 42.79 Billion compared to US$ 40.04 Billion in July 2024.

Table 3: Trade excluding Petroleum and Gems & Jewellery during July 2025

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during July 2025

• Non-petroleum and non-gems & jewellery exports in April-July 2025 were US$ 118.40 Billion, compared to US$ 109.22 Billion in April-July 2024.
• Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-July 2025 were US$ 159.80 Billion, compared to US$ 146.61 Billion in April-July 2024.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-July 2025

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-July 2025

SERVICES TRADE

• The estimated value of services export for July 2025* is US$ 31.03 Billion as compared to US$ 30.60 Billion in July 2024.
• The estimated value of services imports for July 2025* is US$ 15.40 Billion as compared to US$ 15.94 Billion in July 2024.

Fig 7: Services Trade during July 2025*

• The estimated value of service exports during April-July 2025* is US$ 128.43 Billion as compared to US$ 119.07 Billion in April-July 2024.
• The estimated value of service imports during April-July 2025* is US$ 64.90 Billion as compared to US$ 64.72 Billion in April-July 2024.
• The services trade surplus for April-July 2025* is US$ 63.53 Billion as compared to US$ 54.34 Billion in April-July 2024.

Fig 8: Services Trade during April-July 2025*

• Exports of  Other Cereals  (71.97%), Coffee (67.46%), Electronic Goods (33.89%), Meat, Dairy & Poultry Products (31.19%), Gems & Jewellery (28.95%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (27.11%), Jute Mfg. Including Floor Covering (26.34%), Oil Seeds (22.68%), Tea (18.97%), Cereal Preparations & Miscellaneous Processed Items (14.49%), Drugs & Pharmaceuticals (14.06%), Marine Products (14.02%), Engineering Goods (13.75%), Ceramic Products & Glassware (12.27%), Rice (10.96%), Cashew (10.96%), Handicrafts Excl. Hand Made Carpet (10%), Carpet (8.05%), Leather & Leather Products (7.79%), Organic & Inorganic Chemicals (7.19%), Fruits & Vegetables (6.58%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (5.18%), Rmg Of All Textiles (4.75%), Tobacco (4.51%), Plastic & Linoleum (4.39%), Man-Made Yarn/Fabs./Made-Ups Etc. (4.05%) and Spices (4.01%) record positive growth during July 2025 over the corresponding month of last year.
• Imports of Pulses (-51.62%), Leather & Leather Products (-41.1%), Newsprint (-25.73%) and Coal, Coke & Briquettes, Etc. (-20.93%) record negative growth during July 2025 over the corresponding month of last year.
• Services exports is estimated to grow by 7.86 percent during April-July 2025* over April-July 2024.
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in July 2025 vis a vis July 2024 are U S A (19.94%), U Arab Emts (11.69%), China P Rp (27.39%), Spain (60.12%) and Hong Kong (66.43%).
• Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-July 2025 vis a vis April-July 2024 are U S A (21.64%), China P Rp (19.97%), U Arab Emts (4.62%), Kenya (64.05%) and Germany (14.37%).
• Top 5 import sources, in terms of change in value, exhibiting growth in July 2025 vis a vis July 2024 are Saudi Arab (41.34%), Hong Kong (45.78%), Ireland (375.56%), Peru (249.3%) and U S A (13.78%).
• Top 5 import sources, in terms of change in value, exhibiting growth in April-July 2025 vis a vis April-July 2024 are China P Rp (13.06%), U Arab Emts (17.67%), Ireland (302.8%), U S A (12.33%) and Hong Kong (36.87%).

*Link for Quick Estimates

***

Abhishek Dayal/Abhijith Narayanan/Shabbir Azad