September Exports Stagnant at $44.4bn
but Imports Up $4bn Over Aug
Ř Trade Deficit Falls Further to $13.30bn from 9.4bn
Ř The cumulative value of merchandise
exports during April-September 2026-27 was US$ 259.89 Billion, as compared to
US$ 219.30 Billion during April-September 2025-26, registering a positive
growth of 18.51%.
Ř The cumulative Non-Petroleum exports
in April-September 2026-27 valued at US$ 218.70 Billion registered an increase
of 15.56% as compared to US$ 189.26 Billion in April-September 2025-26.
Ř Major drivers of merchandise export
growth in September 2026 include Electronic Goods, Petroleum Products, Organic
& Inorganic Chemicals, Engineering Goods, Cotton Yarn/Fabs./Made-Ups,
Handloom Products Etc.
Ř Electronic Goods exports increased by
70.44% from US$ 3.11 Billion in September 2025 to US$ 5.31 Billion in September
2026.
Ř Petroleum Products exports increased
by 31.90% from US$ 4.71 Billion in September 2025 to US$ 6.22 Billion in
September 2026.
Ř Organic & Inorganic Chemicals
exports increased by 24.21% from US$ 2.37 Billion in September 2025 to US$ 2.94
Billion in September 2026.
Ř Engineering Goods exports increased
by 20.91% from US$ 10.06 Billion in September 2025 to US$ 12.17 Billion in
September 2026.
Ř Cotton Yarn/Fabs./made-ups,
Handloom Products exports increased by 20.76% from US$ 0.93 Billion in
September 2025 to US$ 1.12 Billion in September 2026.
1.
Overall Trade Performance
·
Total exports (merchandise and services)
increased by 13.84% to US$ 476.20 billion during April–September
2026-27, compared with US$ 418.31 billion in the corresponding period of
2025-26.
·
Total imports rose by 15.68% to US$ 551.13
billion, compared with US$ 476.42 billion.
·
The overall trade deficit widened to US$ 74.93
billion from US$ 58.10 billion.
2.
September 2026 Trade Performance
·
Total exports increased by 10.99% to US$
80.75 billion from US$ 72.76 billion in September 2025.
·
Total imports grew by 8.19% to US$ 94.05 billion
from US$ 86.93 billion.
·
The total trade deficit narrowed to US$ 13.30
billion, compared with US$ 14.17 billion in September 2025.
3.
Merchandise Trade
·
Merchandise exports during April–September 2026-27
increased by 18.51% to US$ 259.89 billion from US$ 219.30 billion.
·
Merchandise imports rose to US$ 437.53 billion from
US$ 376.17 billion.
·
The merchandise trade deficit widened to US$
177.64 billion, compared with US$ 156.88 billion in the corresponding
period of the previous year.
·
In September 2026, merchandise exports reached US$
44.40 billion, compared with US$ 36.08 billion in September 2025.
·
Merchandise imports increased to US$ 74.61 billion
from US$ 69.08 billion.
4.
Non-Petroleum Exports
·
Non-petroleum exports increased by 15.56% to
US$ 218.70 billion during April–September 2026-27, compared with US$ 189.26
billion in the previous year.
·
In September 2026, non-petroleum exports stood at
US$ 38.18 billion, compared with US$ 31.37 billion in September 2025.
5. Major
Export Sectors Showing Growth in September 2026
The
following sectors recorded significant export growth compared with September
2025:
|
Export
Sector |
Growth
(%) |
|
Electronic
Goods |
70.44% |
|
Other
Cereals |
49.88% |
|
Handicrafts,
excluding handmade carpets |
43.19% |
|
Meat,
Dairy & Poultry Products |
35.18% |
|
Petroleum
Products |
31.90% |
|
Plastic
& Linoleum |
24.81% |
|
Organic
& Inorganic Chemicals |
24.21% |
|
Engineering
Goods |
20.91% |
|
Cotton
Yarn, Fabrics, Made-ups & Handloom Products |
20.76% |
|
Carpets |
19.81% |
|
Gems
& Jewellery |
18.95% |
Other sectors recording positive growth included
textiles, coffee, marine products, oilseeds, leather products, drugs and
pharmaceuticals, rice and spices.
6. Key
Export Sector Performance in September 2026
·
Electronic Goods: Exports
increased by 70.44% to US$ 5.31 billion from US$ 3.11 billion.
·
Petroleum Products: Exports
grew by 31.90% to US$ 6.22 billion from US$ 4.71 billion.
·
Organic & Inorganic Chemicals: Exports
rose by 24.21% to US$ 2.94 billion from US$ 2.37 billion.
·
Engineering Goods: Exports
increased by 20.91% to US$ 12.17 billion from US$ 10.06 billion.
·
Cotton Yarn, Fabrics, Made-ups & Handloom
Products: Exports grew by 20.76% to US$ 1.12 billion from
US$ 0.93 billion.
7.
Services Trade
·
Services exports during April–September 2026-27
were estimated at US$ 216.31 billion, compared with US$ 199.02 billion
in the corresponding period of the previous year.
·
Services imports increased to US$ 113.60 billion
from US$ 100.24 billion.
·
The services trade surplus improved to US$
102.71 billion, compared with US$ 98.77 billion.
·
Services exports were estimated to have grown by 8.69%
during April–September 2026-27.
·
In September 2026, services exports were estimated
at US$ 36.35 billion, slightly below US$ 36.67 billion in September 2025.
8.
Imports Recording Negative Growth in September 2026
The
following import categories registered a decline compared with September 2025:
·
Project Goods: −86.85%
·
Gold: −81.27%
·
Silver: −49.11%
·
Fertilisers, Crude & Manufactured: −22.18%
·
Newsprint: −9.10%
·
Iron & Steel: −5.33%
·
Wood & Wood Products: −3.41%
·
Medicinal & Pharmaceutical Products: −0.19%.
9. Major
Export Destinations Recording Growth
September
2026 compared with September 2025:
·
Singapore: +169.16%
·
Malaysia: +119.69%
·
Egypt: +90.09%
·
United States: +47.99%
·
China: +24.05%
April–September
2026-27 compared with April–September 2025-26:
·
Tanzania: +122.51%
·
Singapore: +103.05%
·
Malaysia: +82.85%
·
China: +36.07%
·
United States: +11.11%.
10. Major
Import Sources Recording Growth
September
2026 compared with September 2025:
·
Oman: +331.82%
·
South Korea: +52.93%
·
Singapore: +36.44%
·
China: +31.52%
·
Russia: +25.63%
April–September
2026-27 compared with April–September 2025-26:
·
Oman: +210.90%
·
Brazil: +143.13%
·
Russia: +51.97%
·
United States: +25.98%
·
China: +27.82%.
Overall
Assessment
·
India's export performance remained strong, with total
exports growing 13.84% and merchandise exports rising 18.51% during
April–September 2026-27.
·
Electronic goods, petroleum products, chemicals and
engineering goods were major contributors to merchandise export growth.
·
Services continued to provide a substantial trade
surplus of US$ 102.71 billion.
·
However, total imports grew faster than total
exports, resulting in a widening cumulative overall trade deficit of US$ 74.93
billion.
·
The September monthly trade deficit narrowed
slightly, indicating an improvement compared with September 2025.
Note: Services
trade figures for September 2026 are estimates because the latest RBI
services-sector data available at the time covered August 2026.
Table
2: China Imports Grow 16.3% in
Sept over Aug, Hits $12.8bn – Nearly Double that of Second Ranker Russia
Table
3: Sept
Exports through Transit Countries UAE, HK, Netherlands, Saudia Rise
Table
4: Sept
Crude Up by 9.9% over Aug Hits $18.3bn Up 10%, Electronic Reaches $14.8bn