Chennai: Commodity exports remained flat in March and throughout the fiscal year 2024-25, while imports were on the rise.
According to temporary data released by the Ministry of Commerce, commodity exports remained almost flat to $41.97 billion in March, while imports of goods increased by 11.4% to $63.51 billion. Its export price and $50.96 billion imports were also higher than in February.
As imports grew, India’s commodity trade deficit in March expanded to $21.54 billion from $14.05 billion in February. Year-on-year, the commodity trade gap widened in March 2025, while the $15.34 in March 2024.
“Commodity export data mask expectations for proposed pre-tariff freight, which resulted in a higher than expected deficit. Now, we expect a surplus of $1-300 million in the fourth quarter of FY2025 on April 4, with a full-year deficit of 0.9% of GDP, about 0.9% of GDP,” Aditi nayar nayar nayar ycra, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA, ICRA.
In March, India’s oil imports rose to $19 billion from $11.8 billion in February. Monthly oil imports were the highest in May 2024, when they reached $19.95 billion. Gold imports nearly doubled in March to $4.4 billion, from $2.3 billion in February.
For fiscal year 2024-25, although commodity exports remained almost flat, imports were $437.42 billion, but imports rose 6% to $720.74 billion.
Service exports rose 12% to $383.51 billion, while service imports rose 9% to $194.95 million.
India’s goods and services exports in the current fiscal year increased by more than 5% to $820.93 billion compared to a year ago, while overall inbound goods rose by nearly 7% to $915.19 billion.
