India's exports hit record $89.99 billion in October; trade deficit narrows to $20.09 billion

India's overall shipments, including merchandise and services, jumped 29.9% to record the country's "highest ever" monthly export value of $89.99 billion in October, Commerce Secretary Rajesh Agrawal said on Friday, while the trade deficit narrowed to $20.09 billion, as per government data.

The country's exports -- including merchandise and services -- stood at $69.27 billion in the same month last year. India's trade deficit in October 2025 stood at $25.15 billion.

India's imports rose to $110.07 billion in October, from $94.42 billion in the same month last year.

During October, merchandise exports rose to $49.47 billion from $34.11 billion in the corresponding month of last year, the data showed. Meanwhile, services exports also grew to $40.51 billion, from $35.17 billion in October 2025.

Addressing a media briefing virtually, the commerce secretary said, "In the month of October, the merchandise exports have registered a new peak of $49.47 billion. This is highest-ever monthly merchandise export value, along with highest monthly growth of 45.06% in last five years."

He further stated, "The total exports are also estimated at $89.99 billion in October 2026, which is again highest-ever monthly export value. We have not achieved $89.99 billion ever till now in any month. This is also with the third highest monthly growth rate of 29.90% in last five years."

The commerce secretary shared that the encouraging part of the growth is that it is not confined to any particular sector or geography. It is broad-based across countries and regions.

He added, "43 of our 50 export destinations, top export destinations, posted positive growth in October 2026 as compared to 2025."

(Except for the headline, Fortune India has not edited the content of this PTI report.)