Overview
- Government data released on Friday, Nov. 13, 2026, show combined merchandise and services exports rose 29.9% year-on-year to a record $89.99 billion for October.
- Merchandise exports hit a monthly high of $49.47 billion, driven by broad-based goods shipments, while a Reuters calculation put the merchandise trade deficit at $39.88 billion for the month.
- Overall imports climbed to $110.07 billion in October and merchandise imports reached $89.35 billion, but the country's overall trade deficit narrowed to $20.09 billion from $25.15 billion a year earlier.
- Services exports are estimated at $40.51 billion for October and helped offset goods shortfalls, but the ministry cautioned these figures are provisional because the RBI's latest actual services data cover only September.
- Officials attribute the export momentum to market diversification and recent trade pacts, while India’s reliance on oil imports and elevated Brent prices, though eased to about $92 a barrel, remain a key factor shaping the goods deficit and policy risks.