Editor’s Note
**Editor’s Note:** India’s total exports surged 11.37% to $232.73 billion in Q1 FY2026-27, driven by strong performance in both merchandise and services, according to Commerce Ministry data.
New Delhi: According to the latest official data released by the Ministry of Commerce and Industry, India’s overall foreign trade (including both merchandise and services) has shown strong performance in the first quarter of fiscal year 2026-27 (April-June 2026). During this period, the country’s total cumulative exports are estimated at $232.73 billion, reflecting a positive growth of 11.37% compared to the same period last year. However, imports have also surged sharply due to domestic demand and raw material requirements, widening the trade deficit.
In the month of June 2026 alone, India’s total exports stood at $73.45 billion, up 9.48% compared to June 2025. On the other hand, total imports surged 26.85% to reach $88.76 billion.
Trade Balance for June 2026 (in $ billion)
| Sector | June 2026 | June 2025 | Annual Change (%) |
|——–|———–|———–|——————-|
| Merchandise Exports | $40.41 | $34.98 | +15.52% |
| Merchandise Imports | $70.84 | $54.08 | +30.99% |
| Services (Exports) | $33.03 | $32.11 | +2.86% |
| Services (Imports) | $17.92 | $15.90 | +12.70% |
| Total Exports | $73.45 | $67.09 | +9.48% |
| Total Imports | $88.76 | $69.98 | +26.85% |
| Trade Balance | -$15.32 | -$2.89 | — |
On a quarterly basis, merchandise exports achieved a notable growth of 15.92%, recording $129.32 billion.
Quarterly Trade Balance (in $ billion)
| Sector | April-June 2026-27 | April-June 2025-26 | Annual Change (%) |
|——–|——————–|——————–|——————-|
| Merchandise Exports | $129.32 | $111.57 | +15.92% |
| Merchandise Imports | $216.18 | $180.31 | +19.89% |
| Services (Exports) | $103.41 | $97.41 | +6.16% |
| Services (Imports) | $53.97 | $49.51 | +9.01% |
| Total Exports | $232.73 | $208.98 | +11.37% |
| Total Imports | $270.15 | $229.82 | +17.55% |
| Overall Trade Deficit | -$37.42 | -$20.85 | — |
During June 2026, healthy export growth was observed in both traditional and non-traditional sectors.
Gems & Jewellery: Surged 34.64% from $1.79 billion (June 2025) to $2.41 billion.
Engineering Goods: Recorded a 20.74% increase to $11.48 billion.
Organic & Inorganic Chemicals: Rose 19.42% to reach $2.77 billion.
Electronic Goods: Increased 18.93% to $4.93 billion, driven by growth in mobile and IT hardware manufacturing.
Rice: Grew 16.48%, crossing the $1.00 billion mark.
In contrast, imports of project goods (-85.44%) and silver (-73.62%) saw sharp declines in June 2026.
In terms of change in value, India’s top trading partners are as follows:
Top 5 Export Destinations
Singapore: Topped with a 101.16% increase in Q1.
Tanzania: Recorded a 146.89% jump.
South Africa: Rose 76.49% on a quarterly basis (114.04% in June).
Sri Lanka: Increased 124.63%.
China: Despite economic slowdown, saw a positive growth of 27.54%.
Top 5 Import Sources
During Q1 (April-June), India increased imports the most in value from these countries:
Russia: Rose 52.68% due to continued supply of discounted crude oil (85.02% in June).
Oman: Recorded an unprecedented growth of 221.81%.
Brazil: Surged 174.69%.
China: Increased 27.94% driven by industrial inputs and electronics.
USA: Rose 23.82%.
India’s services sector continues to provide a strong safety net, generating a trade surplus of $49.43 billion in Q1. However, a merchandise trade deficit of $86.86 billion pushed the overall quarterly deficit to $37.42 billion, underscoring the need for policymakers to focus on import control measures in the coming months.
Source: *Government of India Press Information Bureau