Indias Merchandise Exports Reach Record High of $49.47 Billion in October

Mumbai, November 13 (Daily Kiran) : India’s merchandise exports surged by 45% year-on-year in October, reaching an all-time high of $49.47 billion, as reported by government data released on November 13.

During the same period, merchandise imports also rose, increasing by 16.5% to $89.35 billion. This imbalance resulted in a trade deficit of $39.88 billion for October, significantly higher than the $30.21 billion deficit recorded in September 2026 and the $33 billion deficit from the previous October.

Commerce Secretary Rajesh Aggarwal noted that India’s total exports for October amounted to $89.9 billion, with service exports contributing approximately $40.51 billion. He emphasized that the merchandise export figure of $49.47 billion marked a new monthly record, driven by growth across various sectors and export destinations.

Aggarwal highlighted that 43 out of India’s top 50 export markets experienced positive growth during the month. Notably, exports to countries such as Spain, South Africa, Egypt, Hong Kong, Malaysia, Ghana, Turkey, Oman, the UK, and Mexico saw increases exceeding 50%.

Exports to China, Japan, and the United States also witnessed significant growth, ranging from 39% to 48%. Key contributors to the merchandise export growth included petroleum products, electronics, gems and jewelry, processed foods, and engineering goods.

The performance of exports to partner markets under India’s Free Trade Agreements (FTAs) was particularly strong. Following a period of sluggishness due to conflicts in West Asia, there are signs of improvement in trade with the Middle East, where exports increased by 4% in October.