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. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
India - Trade balance, percent of GDP - Recent values chart

Historical series
India - Trade balance, percent of GDP - historical chart - 1960-2023




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).

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 Related indicators Latest Reference Measure
 Terms of trade 90.74 2021 percent
 Trade openness 45.92 2023 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 21.85 2023 percent
 Exports, billion dollars 779.45 2023 billion U.S. dollars
 Growth of exports 1.52 2023 percent
 Imports, percent of GDP 23.96 2023 percent
 Imports, billion dollars 858.84 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 0.79 2023 percent
 Foreign Direct Investment, billion dollars 28.08 2023 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 -31.96 2023 billion U.S. dollars
 Current Account, quarterly -0.79 9/2024 percent
 Trade balance, percent of GDP -2.07 2023 percent
 Trade balance, in dollars -86.33 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 79.08 2023 million USD
 External debt 18.42 2022 percent
 Short-term external debt 19.53 2023 percent
 Short-term debt to reserves 20.12 2023 percent
 Foreign exchange reserves 59,166.02 5/2025 billion
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