Overview

• Merchandise imports climbed to $68.53 billion in September from $61.59 billion in August, outpacing exports that rose to $36.38 billion.
• The deficit sharply overshot economists’ expectations of $25.13 billion in a Reuters poll.
• Government estimates put September services exports at $30.82 billion against $15.29 billion in services imports, producing a $15.53 billion goods-and-services surplus.
• Shipments in textiles, shrimp, and gems and jewellery were pressured after President Donald Trump doubled tariffs to 50% on several Indian goods in late August.
• The data precede trade talks in Washington, where India signals higher U.S. energy purchases and seeks to address concerns over its Russian oil buying.