India's merchandise exports jump 45% to a record $49.47 billion in October 2026; total exports up 29.9%
Commerce ministry data: goods exports rose 45.06% to a record $49.47 bn in October 2026; total exports hit $89.99 bn and the overall trade deficit narrowed.
India's merchandise exports rose 45.06% to $49.47 billion in October 2026 from $34.11 billion a year earlier, the highest monthly figure on record, according to Ministry of Commerce and Industry data released on 13 November. Goods imports rose to $89.35 billion, widening the merchandise trade deficit to $39.88 billion. Including services, total exports grew 29.9% to $89.99 billion and the overall deficit narrowed to $20.09 billion from $25.15 billion.
The October numbers
| Measure (US$ billion) | October 2025 | October 2026 |
|---|---|---|
| Merchandise exports | 34.11 | 49.47 |
| Merchandise imports | 76.69 | 89.35 |
| Services exports (estimate) | 35.17 | 40.51 |
| Services imports (estimate) | 17.73 | 20.72 |
| Total exports | 69.27 | 89.99 |
| Total imports | 94.42 | 110.07 |
| Overall trade deficit | 25.15 | 20.09 |
Services figures for October are estimates. The Reserve Bank of India's latest actual services data is for September 2026, and the October numbers will be revised when that data arrives.
Which sectors drove it
Exports excluding petroleum and gems and jewellery rose 32.98% to $37.38 billion, which shows the growth was broad-based and not only a result of higher oil prices. By destination, exports to the United States grew 39.25% and to China 48.15%.
The deficit picture
Goods imports also rose, so the merchandise trade deficit widened to $39.88 billion from $30.21 billion in September 2026. A services surplus offset much of it: the overall goods and services deficit fell to $20.09 billion, or 10.04% of total trade against 15.36% a year earlier.
For April to October 2026, total exports reached $568.84 billion against $487.59 billion in the same period last year.
Related services
Sources
- ANI via The Tribune, 13 November 2026: India's exports surge nearly 30% to USD 89.99 billion in October (Ministry of Commerce and Industry data)
- SMEStreet, 14 November 2026: India Exports October 2026 (Ministry of Commerce and Industry data)
- Angel One, 13 November 2026: India's merchandise exports hit record $49.47 billion in October 2026
Reported by the Refogo News Desk from the official sources above. General information, not legal or tax advice. Spotted an error? Email support@refogo.com; see our corrections policy.
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