Exports jump 45% to record $49.47 bn in Oct; petro products, electronics goods key drivers

New Delhi: India's merchandise exports rose nearly 45 percent year-on-year to USD 49.47 billion in October, reaching a new peak, while imports also widened to USD 89.35 billion, according to the Commerce Ministry data.

Trade deficit was USD 39.88 billion in the month, lower than USD 42.58 billion in October 2025. Merchandise exports during October 2025 were USD 34.11 billion, while imports totalled USD 76.69 billion.

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Gold imports fell sharply to USD 5.51 billion during the month under review from USD 14.72 billion in October 2025.

Major drivers of merchandise export growth in October 2026 include petroleum products, electronic goods, gems and jewellery, organic and inorganic chemicals, and engineering goods, the ministry said.

The cumulative value of merchandise exports during April-October 2026-27 was USD 309.06 billion, as compared to USD 253.40 billion during the corresponding period of 2025-26, a growth of 21.96 percent.

The commerce ministry said that the estimated value of services exports for October 2026 is USD 40.51 billion as compared to USD 35.17 billion in the corresponding month last year. Services imports are estimated at USD 20.72 billion as against USD 17.73 billion in October 2025.

Meanwhile, the overall export (merchandise and services) in October rose to the "highest ever" monthly value of USD 89.99 billion, Commerce Secretary Rajesh Agrawal said. The overall trade deficit narrowed to USD 20.09 billion in October.

India’s total exports during April-October 2026-27 are estimated at USD 568.84 billion, up 16.66 percent. Total imports are estimated at USD 662.19 billion, up 16 percent year on year.

In a virtual media briefing, the Commerce Secretary said that in October, the merchandise exports registered a new peak of USD 49.47 billion. "This is highest-ever monthly merchandise export value, along with highest monthly growth of 45.06 percent in last five years," he added.

"We have not achieved USD 89.99 billion ever till now in any month. This is also with the third highest monthly growth rate of 29.9 percent in the last five years," Agrawal said.

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The secretary said that the encouraging part of the growth is that it is not confined to any particular sector or geography. It is broad-based across countries and regions.

"43 of our 50 export destinations, top export destinations, posted positive growth in October 2026 as compared to 2025."

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