Ministry of Commerce & Industry

Department of Commerce
….
New Delhi, Dated 16th October, 2024
PIB RELEASE

The cumulative overall exports during April-September 2024 is estimated at USD 393.22Billion,
as compared to USD 375Billion in April-September 2023, with an estimated growth of 4.86%.

The cumulative value of merchandise exports during April-September 2024 was USD 213.22
Billion, as compared to USD 211.08 Billion during April-September 2023, registering a positive
growth of 1.02%.

Non-petroleum & Non-Gems & Jewellery exports registered an increase of 9.14% from USD
24.76 Billion in September 2023 to USD 27.03 Billion in September 2024.

Major drivers of merchandise exports growth in September 2024 include Engineering Goods,
Organic & Inorganic Chemicals, Plastic & Linoleum, Drugs & Pharmaceuticals and RMG of all
Textiles.

Engineering Goods exports increased by 10.55% from USD 8.89 Billion in September 2023 to
USD 9.82 Billion in September 2024.

Organic & Inorganic Chemicals exports increased by 11.21% from USD 2.12 Billion in
September 2023 to USD 2.36 Billion in September 2024.

Plastic & Linoleum exports increased by 28.32% from USD 0.62 Billion in September 2023 to
USD 0.79 Billion in September 2024.

Drugs & Pharmaceuticals exports increased by 7.22% from USD 2.39 Billion in September 2023
to USD 2.57 Billion in September 2024.

RMG of all Textiles exports increased by 17.30% from USD 0.95 Billion in September 2023 to
USD 1.11 Billion in September 2024.

 India’s total exports (Merchandise and Services combined) for September 2024* is estimated at
USD 65.19 Billion, registering a positivegrowth of 3.76 percent vis-à-vis September 2023.Total
imports (Merchandise and Services combined) for September 2024* is estimated at USD 71.68
Billion, registering a positive growth of 3.79 percent vis-à-vis September 2023.
Table 1: Trade during September 2024*
September 2024 September 2023
(USD Billion) (USD Billion)
Merchandise Exports 34.58 34.41
Imports 55.36 54.49
Services* Exports 30.61 28.42
Imports 16.32 14.58
Total Trade Exports 65.19 62.83
(Merchandise +Services) * Imports 71.68 69.06
Trade Balance -6.49 -6.23
* Note: The latest data for services sector released by RBI is for August2024. The data for September 2024 is an
estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-September 2023 and
April-June 2024 has been revised on pro-rata basis using quarterly balance of payments data.

1
 Fig 1: Total Trade during September2024*
74 71.68
72
70 69.06

USD Billion
68
65.19
66
64 62.83
62
60
58
September-2023 September-2024

Exports Imports

 India’s total exports during April-September2024* is estimated at USD 393.22 Billion registering a
positive growth of 4.86 percent. Total imports during April-September 2024* is estimated at USD
448.05 Billion registering a growth of 6.89 percent.
Table 2: Trade during April-September 2024*
April-September April-September
2024 2023
(USD Billion) (USD Billion)
Merchandise Exports 213.22 211.08
Imports 350.66 330.32
Services* Exports 180.00 163.92
Imports 97.39 88.86
Total Trade Exports 393.22 375.00
(Merchandise +Services) * Imports 448.05 419.18
Trade Balance -54.83 -44.18

Fig 2: Total Trade during April-September 2024*

460 448.05
440 419.18
420
USD Billion

393.22
400
375.00
380
360
340
320
April-September 2023 April-September 2024

Exports Imports

MERCHANDISE TRADE
 Merchandise exports during September 2024 were USD 34.58 Billion as compared to USD 34.41
Billion in September 2023.
 Merchandise imports during September 2024 were USD 55.36 Billion as compared to USD 54.49
Billion in September 2023.

2
 Fig 3: Merchandise Trade during September 2024
60 54.49 55.36
50

USD Billion
40 34.41 34.58
30
20
10
0
September-2023 September-2024

Exports Imports

 Merchandise exports during April-September 2024 were USD 213.22 Billion as compared to USD
211.08Billion during April-September 2023.
 Merchandise imports during April-September 2024 were USD 350.66 Billion as compared to USD
330.32 Billion during April-September 2023.
 Merchandise trade deficit during April-September 2024 was USD 137.44 Billion as compared to
USD 119.24 Billion during April-September 2023.
Fig4: Merchandise Trade during April-September 2024
400 350.66
330.32
300
USD Billion

211.08 213.22
200

100

0
April-September 2023 April-September 2024

Exports Imports

 Non-petroleum and non-gems & jewellery exports in September 2024 were USD 27.03Billion
compared to USD 24.76Billion in September 2023.
 Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in September 2024
were USD 36.49Billion compared to USD 34.21Billion in September 2023.

Table 3: Trade excluding Petroleum and Gems & Jewellery during September 2024
September 2024 September 2023
(USD Billion) (USD Billion)
Non- petroleum exports 29.85 27.95
Non- petroleum imports 42.82 40.48
Non-petroleum & Non-Gems & Jewellery exports 27.03 24.76
Non-petroleum & Non-Gems & Jewellery imports 36.49 34.21
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

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 Fig 5: Trade excluding Petroleum and Gems & Jewellery during September 2024
40 34.21 36.49

24.76 27.03

USD Billion
30
20
10
0
September-2023 September-2024

Non-petroleum & Non-gems & jewellery exports

Non-petroleum & Non-gems & jewellery imports

 Non-petroleum and non-gems & jewellery exports in April-September 2024 were USD 162.77
Billion, compared to USD 153.71 Billion in April-September 2023.
 Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-September
2024 were USD 222.72 Billion, compared to USD 211.34 Billion in April-September 2023.
Table 4: Trade excluding Petroleum and Gems & Jewellery during April-September 2024
April-September April-September
2024 2023
(USD Billion) (USD Billion)
Non- petroleum exports 176.68 169.33
Non- petroleum imports 261.75 246.36
Non-petroleum &Non Gems& Jewellery exports 162.77 153.71
Non-petroleum & Non Gems & Jewellery imports 222.72 211.34
Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones
Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-September 2024
250 211.34 222.72
200 162.77
USD Billion

153.71
150
100
50
0
April-September 2023 April-September 2024

Non-petroleum & Non-gems & jewellery exports

Non-petroleum & Non-gems & jewellery imports

SERVICES TRADE
 The estimated value of services export for September 2024* is USD 30.61 Billion as compared to
USD 28.42Billion in September 2023.
 The estimated value of services imports for September 2024* is USD 16.32 Billion as compared to
USD 14.58Billion in September 2023.

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 Fig 7: Services Trade during September2024*
35 30.61
28.42
30
25

USD Billion
20 14.58 16.32
15
10
5
0
September-2023 September-2024

Exports Imports

 The estimated value of service exports during April-September 2024* is USD 180 Billion as
compared to USD 163.92 Billion in April-September 2023.
 The estimated value of service imports during April-September 2024* is USD 97.39 Billion as
compared to USD 88.86 Billion in April-September 2023.
 The services trade surplus for April-September 2024* is USD 82.61 Billion as compared to USD
75.06 Billion in April-September 2023.
Fig 8: Services Trade during April-September 2024*
200 180.00
163.92
150
USD Billion

88.86 97.39
100

50

0
April-September 2023 April-September 2024

Exports Imports

 Exports of Coffee (74.75%), Tobacco (50.9%), Handicrafts Excl. Hand Made Carpet (48.09%),
Plastic & Linoleum (28.32%), Spices (26.66%), Rice (24.93%), Rmg Of All Textiles (17.3%), Jute
Mfg. Including Floor Covering (16.45%), Cereal Preparations & Miscellaneous Processed Items
(15.25%), Carpet (14.93%), Oil Seeds (14.73%), Oil Meals (13%), Man-Made Yarn/Fabs./Made-
Ups Etc. (11.41%), Organic & Inorganic Chemicals (11.21%), Engineering Goods (10.55%),
Leather & Leather Products (8.86%), Fruits & Vegetables (8.38%), Electronic Goods (7.89%),
Meat, Dairy & Poultry Products (7.85%), Drugs & Pharmaceuticals (7.22%), Tea (5.73%), Cotton
Yarn/Fabs./Made-Ups, Handloom Products Etc. (3.48%) and Cashew (2.23%) record positive
growth during September 2024 over the corresponding month of last year.
 Imports of Dyeing/Tanning/Colouring Mtrls. (-25.92%), Vegetable Oil (-23.24%), Pearls,
Precious & Semi-Precious Stones (-21.62%), Leather & Leather Products (-16.62%), Newsprint (-
13.62%), Petroleum, Crude & Products (-10.44%), Artificial Resins, Plastic Materials, Etc. (-
8.76%), Coal, Coke & Briquettes, Etc. (-2.14%), Textile Yarn Fabric, Made-Up Articles (-1.8%)
and Transport Equipment (-0.38%) record negative growth during September 2024 over the
corresponding month of last year.
 Services exports is estimated to grow by 9.81percent during April-September 2024* over April-
September 2023.

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 Top 5 export destinations, in terms of change in value, exhibiting positive growth in September
2024 vis a vis September 2023 are Netherland (38.6%), U Arab Emts (23.75%), U S A (4.98%),
Brazil (41.98%) and Japan (36.35%).
 Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-
September 2024 vis a vis April-September 2023 are Netherland (36.73%), U S A (5.6%), U Arab
Emts (11.45%), Malaysia (27.91%) and U K (12.4%).
 Top 5 import sources, in terms of change in value, exhibiting growth in September 2024 vis a vis
September 2023 are U Arab Emts (49.22%), China P Rp (14.46%), Germany (32.52%), Japan
(25.72%) and Taiwan (38.17%)
 Top 5 import sources, in terms of change in value, exhibiting growth in April-September 2024 vis
a vis April-September2023 are U Arab Emts (52.01%), China P Rp (11.52%), Russia (5.73%),
Taiwan (39.97%) and Oman (51.52%).

********