Ministry of Commerce (MoC) records $27.10 billion merchandise trade deficit for February 2026

Key facts

• India’s merchandise trade deficit widened to $27.10 billion in February 2026, compared with $14.42 billion in the same month of the previous year.
• Merchandise exports for February 2026 stood at $36.61 billion, while imports were recorded at $63.71 billion.
• The cumulative merchandise exports for the April–February 2025–26 period reached $402.93 billion, marking a 1.84% increase from $395.66 billion in the corresponding period last year.
• The trade deficit for February 2026 narrowed from the $34.68 billion deficit recorded in January 2026.
• Trade Secretary Rajesh Agrawal stated that exports to West Asia have been impacted by regional conflict and the government is considering support measures for Middle East exports.
• India has increased its procurement of Russian oil this month to manage volatility in global energy markets.
• Potential disruptions in the Strait of Hormuz could impact approximately half of India’s monthly imports, particularly oil and energy-linked shipments.