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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Balance of Trade fell to -31.98B in July 2026
FMPMonthlyReleased August 2026
India Balance of Trade fell to -31.98B in July 2026, released August 2026, down 1.55B from June's -30.43B reading. The reading missed the -30.2B consensus by 1.78B. The print is running well above the 12-month average of -42.43B. Over the past 3 months, Balance of Trade averaged -41.41B, vs -43.14B in the prior 3-month window. The reading is in the 32nd percentile of the trailing 24-month range.
Latest Release
-31.98
Actual
-30.2
Consensus
-30.43
Previous
Median Absolute Error
±6.83 billion
across last 12 releases
Last Call
Aug 2026
Predicted: -30.89
Actual: -31.98
Error: +1.09
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.59 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.47 | CRYPTO | Moves with | → View |
| Hang Seng | ▲ Direct | +0.43 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Balance of Trade (India) was reported at -86.10 billion in September 2026. The reading fell from the previous value of -83.40 billion. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged -48.04 billion, ranging from -93.60 billion to -24.53 billion across 16 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged -49.50 billion, down from the prior three at -46.66 billion. Volatility over the past year (σ 27.01 billion) is higher than the prior year (σ 5.28 billion). In September readings over the past 3 years, Balance of Trade has averaged -41.62 billion.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with BTC/USD, positively correlated (Bullish BTC). Over the last 12 releases, the Sigmacast model's median absolute error is 6.83 billion.
WHAT TO WATCH NEXT
The next release is scheduled for September 15, 2026. Same-country events in the next 14 days include HSBC Manufacturing PMI (Sep 23) and HSBC Services PMI (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Balance of Trade - IN
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About Balance of Trade — India
DEFINITION
The Balance of Trade is a financial indicator that measures the difference between a country's exports and imports of goods and services. It is an important measure of a country's economic health and can indicate whether a country is running a trade surplus or deficit. A positive balance of trade indicates that a country is exporting more than it is importing, while a negative balance of trade suggests the opposite. This indicator is closely monitored by economists and policymakers as it can impact a country's currency value, inflation, and overall economic growth.
WHY THIS INDICATOR MATTERS
Trade-balance and tariff data inform exchange-rate fundamentals and feed directly into GDP via the net-exports channel. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual -86.1 B. Prior reading (Jul 2026): -31.98 B. Before that (Jul 2026): -31.98 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish S&P 500, r=0.59) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - IN Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:30 | IN | WPI Manufacturing YoY | 8.37 | 8.29 | 8.5 | 9.11 | Low |
| 06:30 | IN | WPI Inflation YoY | 9.92 | 9.78 | 9.89 | 10.04 | Low |
| 06:30 | IN | WPI Food Index YoY | 7.05 | 6.65 | 6.7 | 7.38 | Low |
| 06:30 | IN | WPI Fuel YoY | 22.93 | 20.05 | 15 | 18.31 | Low |
| 10:30 | IN | Inflation Rate MoM | 0.73 | 0.88 | 0.6 | 0.67 | Low |
| 10:30 | IN | Inflation Rate YoY | 4.82 | 4.44 | 4.8 | 4.81 | Medium |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IN | Balance of Trade | -31.98 | -33 | -33.61 | Medium | |
| 10:30 | IN | Unemployment Rate | 5.1 | 5.2 | 5.30 | Low | |