India’s international trade performance reached an important milestone in October 2026, with the country recording its highest-ever monthly export earnings of $89.99 billion. The combined value of merchandise and services exports surged 29.9 per cent compared with the corresponding period last year, signalling strong momentum across India’s export sector.
Commerce Secretary Rajesh Agrawal announced the figures during a virtual media briefing on Friday, highlighting the unprecedented growth in merchandise shipments and the expanding contribution of services exports. Government data also revealed that India’s trade deficit declined to $20.09 billion in October, compared with $25.15 billion in October 2025.
The latest figures point to a considerable improvement in export performance, despite an increase in the country’s overall imports.
A major highlight of October’s trade performance was the sharp rise in merchandise exports, which climbed to $49.47 billion from $34.11 billion recorded in the same month last year.
Announcing the achievement, Agrawal 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 per cent in last five years.”
The 45.06 per cent increase represents the strongest monthly growth in merchandise exports in five years, underlining the resilience and expanding reach of India’s goods-producing and exporting industries.
Services exports also maintained an upward trajectory. Their value increased to $40.51 billion in October, up from $35.17 billion in October 2025. The growth in both segments played a crucial role in pushing India’s overall exports to an unprecedented level.
Combined Exports Cross $89 Billion
India’s total exports, comprising merchandise and services, reached $89.99 billion during October 2026. This represents a substantial increase from $69.27 billion reported in October of the previous year.
Emphasising the scale of the achievement, the commerce secretary said, “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 per cent in last five years.”
The figures demonstrate the growing contribution of multiple export segments to India’s foreign trade earnings. The record performance also reflects the strength of the country’s international trade relationships and its ability to expand shipments across different markets.
Export Growth Spreads Across International Markets
Another encouraging aspect of October’s performance was the geographical spread of export growth. According to Agrawal, the improvement was not restricted to a handful of industries or individual markets. Instead, Indian exporters recorded positive momentum across a wide range of international destinations.
Highlighting this trend, he added, “43 of our 50 export destinations, top export destinations, posted positive growth in October 2026 as compared to 2025.”
The fact that 43 out of India’s 50 leading export destinations registered growth suggests that the country’s export expansion has a broad international footprint. This widespread performance could also help strengthen India’s position in established markets while supporting opportunities for greater trade diversification.
While exports recorded major growth, India’s imports also increased during the reporting month. Merchandise and services imports collectively stood at $110.07 billion in October 2026, compared with $94.42 billion in October 2025.
Despite the higher import bill, the country’s trade deficit improved to $20.09 billion from $25.15 billion a year earlier.
