Merchandise and Services Trade Surplus Expands for India in Q1 FY27

India's trade balance improved in the April‑June period of FY2026‑27, the Ministry of Commerce reported on Monday.

Overall export value hit $232.73 billion, reflecting an 11.37% increase over the same quarter last year. Merchandise exports rose to $129.32 billion from $111.57 billion, yet the trade deficit in goods widened to $86.86 billion, up from $68.75 billion.

On the services side, exports reached $103.41 billion, up from $97.41 billion, widening the services surplus to $49.43 billion compared with $47.90 billion a year earlier.

June‑specific figures showed $40.41 billion in merchandise exports and $33.03 billion in services exports, both higher than their June‑2025 counterparts.

Non‑petroleum exports climbed to $106.30 billion, a 12.44% jump, indicating diversified growth across sectors.

The expanding surplus in services, coupled with strong merchandise performance, points to a balanced trade outlook for India despite external uncertainties.