Goods Exports Rise to 49-Month High $43.6 Billion in April
Merchandise imports grew 10 per cent to $ 71.94 billion against $ 65.38 Billion in April 2025.
Chennai: Despite the challenges posed by the conflict in West Asia, total merchandise exports rose to a 49-month high of $43.6 billion in April due to higher commodity and fuel prices. Imports too grew 10 per cent to $71.94 billion, resulting in a trade deficit of $28.38 billion.
Merchandise exports were up 13.78 per cent to $ 43.56 billion in April as compared to $38.28 billion in the year before. Two main drivers of the exports were petroleum products and electronic goods, which grew 35.6 per cent and 40 per cent respectively.
“Despite the challenges posed by the conflict in West Asia, total merchandise exports rose to a 49-month high of 43.6 billion in April 2026. This partly benefited from higher commodity prices, with the value of oil exports rising to a 24-month high of US$9.6 billion,” said Aditi Nayar, chief economist, ICRA.
Merchandise imports grew 10 per cent to $ 71.94 billion against $ 65.38 Billion in April 2025. Gold imports were 81 per cent up to $5.6 billion, electronic goods imports were up 38 per cent to $12.7 billion in April.
As a result, India’s trade deficit widened to $28.38 billion in April compared to $20.67 billion in March. “While India's merchandise trade deficit increased mildly in YoY terms, there was a substantial widening in sequential months to US$28.4 billion in April 2026 from US$20.7 billion in March 2026,” said Nayar.
Services trade provided some solace. The estimated services export was up 13.3 per cent to $ 37.24 billion as compared to US$ 32.85 Billion in April 2025. The services imports were 1.47 per cent down to $16.66 billion as compared to $16.91 billion in April 2025. This helped total exports grow 13.59 per cent to $ 80.80 billion in April.
