India: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| India |
Trade balance as percent of GDP |
|---|---|
| Latest value | -2.07 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1960 - 2023 |
| Average | -1.90 |
| Min - Max | -6.72 - 0.57 |
| Source | The World Bank |
The latest value from 2023 is -2.07 percent, an increase from -3.56 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for India from 1960 to 2023 is -1.9 percent. The minimum value, -6.72 percent, was reached in 2012 while the maximum of 0.57 percent was recorded in 1976.
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* indicates monthly or quarterly data series
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The trade balance for India and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 90.74 | 2021 | percent |
| Trade openness | 45.85 | 2023 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 21.89 | 2023 | percent |
| Exports, billion dollars | 777.14 | 2023 | billion U.S. dollars |
| Growth of exports | 1.52 | 2023 | percent |
| Imports, percent of GDP | 23.96 | 2023 | percent |
| Imports, billion dollars | 850.64 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 0.79 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 49.94 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 21,427.09 | 2023 | million dollars (current) |
| Current account, percent of GDP | -1.20 | 2023 | percent |
| Current account, in dollars | -32.34 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -2.07 | 2023 | percent |
| Trade balance, in dollars | -86.26 | 2023 | billion U.S. dollars |
| Reserves | 627.79 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 3.52 | 2023 | percent |
| Remittances | 125,000.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -315.99 | 2023 | million USD |
| External debt | 18.42 | 2022 | percent |
| Short-term external debt | 20.94 | 2022 | percent |
| Short-term debt to reserves | 22.77 | 2022 | percent |
| Foreign exchange reserves | 55,606.61 | 11/2024 | billion |