India’s total exports (Merchandise and Services combined) for November 2025 are estimated at US$ 73.99 billion, registering a positive growth of 15.52 per cent compared to November 2024. Total imports during the month are estimated at US$ 80.63 billion, showing a marginal decline of 0.60 per cent over the corresponding period last year.
During April–November 2025, India’s cumulative exports are estimated at US$ 562.13 billion, as against US$ 533.16 billion during April–November 2024, recording a growth of 5.43 per cent. Cumulative imports during this period stood at US$ 651.13 billion, reflecting a growth of about 5 per cent.
Merchandise Trade
Merchandise exports in November 2025 stood at US$ 38.13 billion, compared to US$ 31.94 billion in November 2024. Merchandise imports during the month were US$ 62.66 billion, lower than US$ 63.87 billion recorded in November 2024.
For the period April–November 2025, merchandise exports amounted to US$ 292.07 billion, compared to US$ 284.60 billion during the corresponding period last year, registering a growth of 2.62 per cent. Merchandise imports during the same period were US$ 515.21 billion, up from US$ 487.93 billion in April–November 2024.
The merchandise trade deficit during April–November 2025 stood at US$ 223.13 billion, as compared to US$ 203.33 billion in the corresponding period last year.
Non-Petroleum Exports
Cumulative non-petroleum exports during April–November 2025 were valued at US$ 254.08 billion, registering an increase of 5.86 per cent over US$ 240.02 billion recorded during April–November 2024.
Non-petroleum and non-gems & jewellery exports during November 2025 were US$ 31.56 billion, compared to US$ 26.35 billion in November 2024.
Sector-wise Performance
Major drivers of merchandise export growth in November 2025 included:
- Engineering Goods: Growth of 23.76 per cent, increasing from US$ 8.90 billion to US$ 11.01 billion
- Electronic Goods: Growth of 38.96 per cent, from US$ 3.46 billion to US$ 4.81 billion
- Gems & Jewellery: Growth of 27.80 per cent, from US$ 2.07 billion to US$ 2.64 billion
- Drugs & Pharmaceuticals: Growth of 20.91 per cent, from US$ 2.16 billion to US$ 2.61 billion
- Petroleum Products: Growth of 11.65 per cent, from US$ 3.52 billion to US$ 3.93 billion
Several other sectors such as iron ore, cashew, oil meals, coffee, marine products, handicrafts, chemicals, textiles, tea, spices, and agricultural products also recorded positive growth during the month.
Services Trade
The estimated value of services exports for November 2025 is US$ 35.86 billion, compared to US$ 32.11 billion in November 2024. Services imports during the month are estimated at US$ 17.96 billion, as against US$ 17.25 billion a year ago.
During April–November 2025, services exports are estimated at US$ 270.06 billion, compared to US$ 248.56 billion in the corresponding period last year. Services imports stood at US$ 135.93 billion, resulting in a services trade surplus of US$ 134.13 billion, higher than US$ 116.35 billion recorded during April–November 2024.
Key Trading Partners
Top export destinations showing positive growth during November 2025 include USA, China, Spain, United Arab Emirates, and Tanzania. For the period April–November 2025, major export growth destinations were USA, China, Spain, UAE, and Hong Kong.
On the import side, key source countries exhibiting growth include China, USA, Thailand, Hong Kong, and Brazil.
Note: Services data for November 2025 are provisional and based on estimates, as the latest RBI data are available up to October 2025.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2204071®=3&lang=1
