Merchandise exports during January 2026 were USD 36.56 Billion as compared to USD 36.34 Billion in January 2025. Merchandise imports during January 2026 were USD 71.24 Billion as compared to USD 59.77 Billion in January 2025, resulting in trade deficit of USD 34.68 billion.
Exports to the US declined 21.77 per cent to USD 6,596.11 million in January 2026 from USD 8, 431.70 million in January 2025.
Exports to Bangaldesh declined 20.25 per cent in January 2026.
Top 5 export destinations, in terms of change in value, exhibiting positive growth in January 2026 vis a vis January 2025 are United Arab Emirates (29.27 per cent), China (55.65 per cent), Hong Kong (98.72 per cent), Netherland (20.47 per cent) and Italy (32.1 per cent).
Total imports (Merchandise and Services combined) for January 2026 is estimated at USD 90.83 Billion, registering a positive growth of 18.76 per cent vis-à-vis January 2025.
Top 5 import sources, in terms of change in value, exhibiting growth in January 2026 vis a vis January 2025 are Switzerland (836.85 per cent), UAE (48.38 per cent), China (16.67 per cent), U S A (23.71 per cent) and U K (75.38 per cent).
The estimated value of services imports for January 2026 is USD 19.60 Billion as compared to USD 16.71 Billion in January 2025.
Exports of Other Cereals (88.49 per cent), Coffee (36.03 per cent), Iron Ore (31.54 per cent), Meat, Dairy & Poultry Products (17.92 per cent), Marine Products (13.29 per cent), Engineering Goods (10.37 per cent), Petroleum Products (8.55 per cent), Mica, Coal & Other Ores, Minerals Including Processed Minerals (6.35 per cent), Fruits & Vegetables (1.77 per cent), Cereal Preparations & Miscellaneous Processed Items (1.12 per cent), among others recorded positive growth during January 2026 over the corresponding month of last year.
Imports of Pulses (-46.94 per cent), Newsprint (-29.33 per cent), Chemical Material & Products (-24.6 per cent), Iron & Steel (-18.77 per cent), Coal, Coke & Briquettes, Etc. (-16.56 per cent), Project Goods (-14.78 per cent), Wood & Wood Products (-8.35 per cent), Organic & Inorganic Chemicals (-7.62 per cent), Transport Equipment (-5.27 per cent) recorded negative growth during January 2026 over the corresponding month of last year.
