New Delhi, Feb 17 (UNI) India’s trade deficit has widened to USD 22.99 billion in the month of January 2025 as the merchandise exports fell 2.4 percent to USD 36.43 billion and the imports surged to USD 59.42 billion in January this year.

India's merchandise exports dipped 2.4 percent year-on-year in January 2025 to USD 36.43 billion, even as the cumulative merchandise exports during the April-January period registered a marginal growth of about 1.4 percent to USD 358.91 billion, as per official data released on Monday.

India's merchandise exports in January 2024 had stood at USD 37.32 billion. The merchandise imports surged to USD 59.42 billion in January this year from USD 53.88 billion in the corresponding period last year. As a result, the trade deficit during January 2025 stood at USD 22.99 billion up from USD 21.94 in the previous month (December).

As per official data, services exports from India during January this year stood at USD 38.55 billion as compared to USD 31.01 billion in the corresponding period last year thus registering a healthy growth of 24.31 percent.

India's overall exports (merchandise and services) stood at USD 74.97 billion in January 2025 as against USD 68.33 billion in January last year thus clocking a growth of 9.71 percent year-on-year.

The cumulative exports (merchandise and services) during April-January 2024-25 is estimated at USD 682.59 Billion, as compared to USD 636.69 Billion in April-January 2023-24, an estimated growth of 7.21 percent, the Government said.

Major drivers of merchandise exports growth in January 2025 include Electronic Goods, Engineering Goods, Drugs & Pharmaceuticals, Rice and Gems & Jewellery, it said, adding electronic goods exports increased by 78.97 percent from USD 2.29 Billion in January 2024 to USD 4.11 Billion in January 2025.

The Engineering Goods exports increased by 7.44 percent from USD 8.77 Billion in January 2024 to USD 9.42 Billion in January2025.

Drugs & Pharmaceuticals exports registered a growth of 21.46 percent to USD 2.59 billion in the month of January 2025 as compared to USD 2.13 Billion during January 2024. Rice exports increased by 44.61 percent from USD 0.95 Billion in January 2024 to USD 1.37 Billion in January 2025.

According to the official data, the Gems & Jewellery exports grew 15.95 percent to USD 3 billion in January 2025 as against USD 2.59 Billion in January 2024.

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