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India on 10th spot in US trade deficit rankings

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RBI Grade BNABARD ESISEBI
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India was not among the top 10 countries with the largest trade deficits with the US in CY 2023, but ranked 10th according to data for CY 2024, as electronics exports recorded an increase.

Key Highlights:

Countries where the US records a trade deficit:

  • China: $279 billion
  • Mexico: $152 billion

India’s trade deficit statistics:

  • CY 2023: $43.7 billion, Ranked 11th
  • CY 2024: $38 billion, which promoted India to the 10th position

What is Trade Deficit?

Also Read: Merchandise Export Falls

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