New Delhi: India’s services exports are estimated to increase by 14.10% during the period from April to February 2024-25 compared to the same timeframe in 2023-24. In February 2025, the top five export destinations showing significant growth in value compared to February 2024 include the USA with a rise of 10.37%, Australia at 76.19%, Japan at 26.55%, Brazil at 10.85%, and Nigeria at 10.75%.
Total Trade during April-February 2024-25
When looking at the broader April-February 2024-25 period against April-February 2023-24, the leading export destinations in terms of value growth are the USA with 9.1%, the United Arab Emirates at 5.19%, the UK at 12.47%, Japan at 21.67%, and the Netherlands at 3.68%.
Trade during April-February 2024-25
The estimated total exports from India for February 2025, encompassing both merchandise and services, stand at USD 71.95 billion, marking a 3.16 per cent increase from February 2024. On the other hand, total imports for February 2025 are expected to be USD 67.52 billion, showing a decrease of 11.34 per cent compared to the same month last year, the Union Ministry of Commerce & Industry stated today.
Total Trade during February 2025
On the import side, the top five sources demonstrating growth in value for February 2025 compared to February 2024 are Thailand with a remarkable 145.45% increase, China at 7.83%, Brazil soaring at 162.18%, Ireland at 117.17%, and Oman at 30.24%. For the April-February 2024-25 period versus April-February 2023-24, the leading import sources showing value growth include the United Arab Emirates at 29.21%, China at 10.41%, Thailand at 42.4%, the USA at 7.23%, and Russia at 4.9%.
Trade during February 2025*
In February 2025, merchandise exports totalled USD 36.91 billion, a decline from USD 41.41 billion in February 2024. During the same month, merchandise imports were USD 50.96 billion, down from USD 60.92 billion a year earlier. From April to February in the fiscal year 2024-25, merchandise exports reached USD 395.63 billion, slightly higher than USD 395.38 billion recorded in the previous fiscal year. Conversely, merchandise imports for this period amounted to USD 656.68 billion, an increase from USD 621.19 billion in April-February 2023-24. This resulted in a merchandise trade deficit of USD 261.06 billion, compared to USD 225.81 billion in the same timeframe the previous year.
Click here for quick estimates
In February 2025, exports of non-petroleum and non-gems & jewellery items were valued at USD 28.57 billion, a decrease from USD 29.99 billion in February 2024. Meanwhile, imports of these categories, which include gold, silver, and precious metals, rose to USD 35.02 billion from USD 33.96 billion in the prior year. For the April-February period of 2024-25, non-petroleum and non-gems & jewellery exports reached USD 310.09 billion, up from USD 286.55 billion in the same period of 2023-24. Imports in this category also increased, totalling USD 415.85 billion compared to USD 388.82 billion in the previous fiscal year.
The estimated value of service exports for February 2025 is USD 35.03 billion, a significant rise from USD 28.33 billion in February 2024. Service imports for the same month were estimated at USD 16.55 billion, compared to USD 15.23 billion a year earlier. For the April-February period of 2024-25, service exports are projected to be USD 354.90 billion, an increase from USD 311.05 billion in the previous year. Service imports during this timeframe are estimated at USD 183.21 billion, up from USD 161.71 billion in April-February 2023-24. Consequently, the services trade surplus for April- February 2024-25 is expected to be USD 171.69 billion, compared to USD 149.34 billion in the same period of the previous fiscal year.
– global bihari bureau
