Overview In February 2024 India exported $41.4B and imported $60.1B, resulting in a negative trade balance of $18.7B. Between February 2023 and February 2024 the exports of India have increased by $4.39B (11.9%) from $37B to $41.4B, while imports increased by $6.87B (12.9%) from $53.2B to $60.1B.
Trade In February 2024, the top exports of India were Petroleum Products ($8.22B), Pearl, Precs, Semiprecs Stones ($2.11B), Drug Formulations, Biologicals ($2B), Telecom Instruments ($1.91B), and Aluminium, Products Of Aluminm ($1.17B). In February 2024 the top imports of India were Petroleum: Crude ($13.3B), Gold ($6.15B), Petroleum Products ($3.64B), Coal,co*ke And Briquittes Etc ($3.19B), and Electronics Components ($2.99B).
Destinations In February 2024, India exported mostly to United States ($7.17B), United Arab Emirates ($3.52B), Netherlands ($2.74B), Singapore ($1.86B), and China ($1.62B), and imported mostly from China ($8.09B), United Arab Emirates ($5.89B), Russia ($4.77B), Saudi Arabia ($3.59B), and Switzerland ($3.14B).
Growth In February 2024, the increase in India's year-by-year exports was explained primarily by an increase in exports to United States ($1.29B or 22%), United Arab Emirates ($660M or 23%), and Singapore ($630M or 51.4%), and product exports increase in Telecom Instruments ($846M or 79.8%), Aluminium, Products Of Aluminm ($546M or 86.7%), and Residul Chemicl And Alled Prod ($436M or 75.4%). In February 2024, the increase in India's year-by-year imports was explained primarily by an increase in imports from Switzerland ($1.82B or 138%), United Arab Emirates ($1.18B or 25.1%), and China ($1.12B or 16.1%), and product imports increase in Gold ($3.52B or 134%), Silver ($1.71B or 13.2k%), and Electronics Components ($907M or 43.6%).
