Trade surplus with US and trade deficit with China widen in FY25
Imports from the neighbouring country, however, moved up 11.52 per cent from $101.7 billion to $113.45 billion.
Chennai, April 16: In FY25, exports to the US increased by 11.59 percent, widening the trade surplus to $41.2 billion. Meanwhile, Chinese imports to India increased 11.52 percent, widening the trade deficit to $99.2 billion.
In FY25, Indian exports to the US went up to $86.5 billion against $77.5 billion, registering a growth of 11.59 per cent. Imports too went up 7.44 per cent from $42.19 billion in FY24 to $45.3 billion in FY25. The slower growth of imports in comparison with exports saw the trade surplus widen to $41.2 billion against $35.4 billion in FY24.
In the case of China, the trade deficit widened from $85.1 billion in FY24 to $99.2 billion in FY25. Exports to China declined 14.49 per cent from $16.66 billion in FY24 to $14.25 billion in FY25.
Imports from the neighbouring country, however, moved up 11.52 per cent from $101.7 billion to $113.45 billion.
Imports from China were driven by rising demand for electronics, EV batteries, solar cells, and key industrial inputs. China is India’s top supplier in all eight major industrial product categories and the PLI schemes are fueling import growth due to their heavy reliance on imported components, said Ajay Srivastava, founder of GTRI.
The United Arab Emirates was the second largest destination for Indian exports, at $36.6 billion, followed by the Netherlands with $22.7 billion and the UK with $14.5 billion, registering 2.84 percent, 1.75 percent, and 12 percent growth, respectively.
Regarding imports, China led the markets, followed by Russia with $63.8 billion shipments, UAE with $63.4 billion and the U.S. fourth largest source market. Russian imports grew 4.39 per cent,t and UAE imports rose 32 per cent. Thailand saw the highest growth in imports at 43.9 per cent and Taiwan 20.89 per cent.