India's estimated exports of goods and services rose in April-July 2026, but the trade balance weakened. The Commerce Ministry's August 13 release put exports at $316.42 billion and imports at $365.85 billion, leaving a combined deficit of $49.43 billion.
That gap was larger than the reported $32.32 billion a year earlier. Imports grew 17.28 per cent, faster than the 13.16 per cent increase in exports; rising export receipts therefore did not mean a narrower deficit.
The goods and services components moved differently. The merchandise deficit was $118.60 billion, while an estimated services surplus of $69.17 billion offset part of it. Looking only at the export headline hides this difference.
The figures are also a dated statistical estimate. July services data were estimated because the latest RBI release then covered June; earlier-period comparisons had been revised. This is the August assessment of April-July trade, not a final October balance or a direct measure of exporters' profitability.
