India Export Data October 2025 reveals mixed trade trends as merchandise exports fall 11.80% but services exports rise sharply, while total exports for April–October report 4.84% annual growth. This comprehensive analysis breaks down sector-wise figures, export destinations, commodity performance, and India’s changing trade balance with global partners.
India Export Data October 2025 Reveals Sharp Dip in Merchandise Shipments but Strong Services Growth
TheInterviewTimes.com | November 17, 2025: India Export Data October 2025 indicates a complex and transitional phase in India’s external trade. While merchandise exports fell sharply due to subdued demand and lower commodity realizations, the services sector continued to show robust momentum. According to the latest Press Information Bureau (PIB) release, India’s total exports (merchandise + services) for October 2025 stood at US$ 72.89 billion, marking a 0.68% decline from October 2024.
This mixed trend highlights India’s shifting export landscape—where traditional goods sectors face pressure but technology, consulting, and IT-enabled services maintain resilience. The data offers crucial insights into India’s trade dynamics at a time of global economic volatility, geopolitical tensions, and fluctuating commodity prices.
India Export Data October 2025: Merchandise Exports Decline 11.80% in October 2025
India’s merchandise exports dropped from US$ 38.98 billion in October 2024 to US$ 34.38 billion in October 2025, an 11.80% contraction. This is one of the steepest monthly declines in 2025, driven by weaker global demand and declining prices of petroleum and metal commodities.
On the import side, merchandise imports surged by 16.63%, rising from US$ 65.21 billion in October 2024 to US$ 76.06 billion in October 2025. This resulted in a significantly wider merchandise trade deficit, deepening economic concerns.
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India Export Data October 2025: Key Declining Import Categories (YoY Oct 2025)
Despite the overall rise in imports, several major categories saw contractions—
- Petroleum, Crude & Products: -21.65%
- Pearls, Precious & Semi-Precious Stones: -25.35%
- Iron & Steel: -19.32%
- Pulp & Waste Paper: -21.34%
- Newsprint: -18.28%
- Pulses: -16.42%
These declines indicate softening prices globally, reduced industrial demand, and improved domestic production in certain sectors.
Services Exports Surge 11.93% to Cushion Total Exports
According to estimated RBI data for October 2025:
- Services exports: Increased from US$ 34.41 billion to US$ 38.52 billion
- Services imports: Rose from US$ 17.23 billion to US$ 18.64 billion
This represents a strong 9.75% growth for April–October 2025 in services exports, underscoring India’s competitive strength in IT services, software, fintech, consulting, and remote delivery sectors.
Services trade continues to be India’s strongest buffer against merchandise volatility, helping maintain overall export stability.
April–October 2025: Cumulative Exports Up 4.84%
Despite October’s 0.68% monthly dip, cumulative export data presents a stronger picture.
April–October 2025 Cumulative Highlights:
- Total exports:
US$ 491.80 billion vs US$ 469.11 billion in 2024
Growth: 4.84% - Total imports:
US$ 569.95 billion vs US$ 539.02 billion
Growth: 5.74% - Trade deficit:
Widened to US$ 78.14 billion from US$ 69.92 billion
Cumulative Merchandise Data (Apr–Oct 2025):
- Merchandise exports: US$ 254.25 billion
- Merchandise imports: US$ 451.08 billion
- Merchandise deficit: US$ 196.82 billion
Cumulative Services Data (Apr–Oct 2025):
- Services exports: US$ 237.55 billion
- Services imports: US$ 118.87 billion
- Services trade surplus: US$ 118.68 billion
This data shows that services now account for nearly 48% of India’s total exports, revalidating India’s structural shift from goods-led to services-dominated trade.
Non-Petroleum and Non-Gems Exports Show Mild Weakness in October
India Export Data October 2025 shows significant contraction in the non-petroleum, non-gems export segment:
October 2025 Figures:
- Non-petroleum exports: US$ 30.43 billion (down from US$ 34.57 billion)
- Non-petroleum, non-gems exports: US$ 28.14 billion (down from US$ 31.32 billion)
However, the April–October cumulative numbers show a healthier trend:
- Non-petroleum exports: Up 3.92%
- Non-petroleum, non-gems exports: Up 4.62%
This indicates that while October was a weak month, the broader trajectory remains positive.
Export Growth Drivers: Electronics, Food Products, Marine Goods Lead Gains
Despite the overall dip, several categories recorded strong export growth in October 2025.
India Export Data October 2025: Top Export Growth Categories (October 2025 YoY)
- Cashew: +126.85%
- Meat, Dairy & Poultry Products: +30.87%
- Electronic Goods: +19.05%
- Marine Products: +11.08%
- Coffee: +10.91%
- Other Cereals: +14.71%
These trends reflect the diversification of India’s export basket. Electronics continue to surge due to PLI incentives and smartphone manufacturing shifts from China to India.
Agriculture and marine categories continue benefiting from strong global demand and India’s growing competitiveness.
Top Export Destinations: China, Spain, Sri Lanka Lead October Growth
India Export Data October 2025 indicates interesting shifts in destination markets.
Top 5 Fastest-Growing Export Destinations (October 2025 vs 2024)
- China: +42.35%
- Spain: +43.43%
- Sri Lanka: +29.02%
- Vietnam: +21.42%
- Tanzania: +17.92%
China’s rise as a top growth market is notable, reflecting increasing acceptance of Indian electronics, agro-products, and marine goods.
India Export Data October 2025: Top 5 Export Destinations (April–October 2025)
- USA: +10.15%
- China: +24.77%
- UAE: +5.88%
- Spain: +40.74%
- Hong Kong: +20.70%
The US continues to be India’s largest export market, while Spain’s rapid rise shows strong demand for Indian textiles, meat, marine products, and machinery.
Top Import Sources: Switzerland, Hong Kong, China Dominate Growth
India’s import data reveals significant shifts:
Top 5 Import Sources (October 2025 Growth)
- Switzerland: +403.67%
- Hong Kong: +93.98%
- China: +15.63%
- United Kingdom: +194.41%
- UAE: +14.38%
April–October 2025 Top Import Growth Sources
- China: +11.88%
- UAE: +13.43%
- Hong Kong: +31.38%
- Ireland: +169.44%
- USA: +9.73%
India’s rising imports from Switzerland and Hong Kong indicate increased purchase of precious metals and electronics components.
Domestic Demand, Global Weakness, and Commodity Prices Shape India’s October 2025 Trade
The October data shows sharp divergence in sectoral performance due to:
1. Weak Global Demand
Major economies like the EU and the UK slowed down, impacting India’s textiles, engineering goods, and petroleum exports.
2. Declining Commodity Prices
Lower petroleum prices significantly reduced export values of refinery products.
3. Strong Domestic Consumption
Rising imports of electronics, machinery, and intermediate goods reflect strong domestic industrial activity.
4. Rising Services Competitiveness
India’s IT, AI services, fintech, and management consulting continue to expand globally, pushing services exports to record levels.
India’s Trade Outlook for 2025–26 Remains Moderately Positive
Despite the October setback, cumulative growth and strong services performance indicate steady resilience.
Factors that may support future export growth:
- Increasing foreign investment in electronics manufacturing
- Expanding India–Middle East trade corridors
- Growing demand for Indian agricultural and marine goods
- Strengthening India–Africa trade ties
- Public sector initiatives like FTAs and export incentives
Challenges to watch:
- Global geopolitical uncertainty
- Possible slowdown in US and EU economies
- Volatility in commodity markets
- Rising import dependence on China
India will need policy interventions, industrial acceleration, and stronger global partnerships to sustain export growth in 2026.
India Export Data October 2025: Conclusion
India Export Data October 2025 highlights a dual-speed economy where merchandise exports face challenges while services exports continue to grow robustly. Despite the monthly decline, the cumulative April–October figures remain strong, showcasing India’s resilience and structural shift toward services-led export growth.
The emerging trends in commodity exports, shifting trade partners, and rising competitiveness in electronics and agriculture are reshaping India’s position in global trade for the next decade.
India Export Data October 2025: Key Takeaways
- India Export Data October 2025 shows a 0.68% decline in total monthly exports.
- Merchandise exports fell sharply by 11.80%, while services exports surged by 11.93%.
- Cumulative exports for April–October 2025 rose 4.84% YoY.
- Strong performers include electronics, marine goods, cashews, and poultry products.
- China, Spain, and Sri Lanka emerged as top fast-growing export destinations.