New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access.Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils.&nbsp;Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow.&nbsp;Also Read: <a href="https://www.wionews.com/world/imran-khan-s-sons-accuse-asim-munir-of-holding-personal-grudge-against-imprisoned-father-1789484359759">Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father</a>&nbsp;China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.&nbsp;The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.”&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/j-k-cm-omar-abdullah-praises-centre-over-pahalgam-attack-condemnation-at-brics-in-presence-of-pakistan-s-allies-1789478311956">J&amp;K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies</a>&nbsp;Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year.&nbsp;BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade.&nbsp;Also Read: <a href="https://www.wionews.com/world/ai-has-the-potential-to-kill-us-all-ex-deepmind-researcher-sounds-alarm-on-superintelligence-threat-1789475011718">‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat</a>&nbsp;New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December.&nbsp;&nbsp;A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access. Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils. Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow. Also Read: Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods. The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.” Also Read: J&K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year. BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade. Also Read: ‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December. A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

India’s imports from Russia jump 57% in five months; China remains top import source

Japan recorded a trade deficit of nearly USD 2.34 billion (378.6 billion yen) in May, marking the first deficit in four months, according to the government data released on Wednesday. However, the deficit of Japan in May was 42.8 per cent lower than the same month of the previous year. The report also indicated that Japan's crude oil imports fell sharply, declining by over 57 per cent in volume amid the ongoing West Asia conflict. Meanwhile, exports significantly surged 17.0 per cent to 9.51 trillion yen on robust demand for semiconductor and other electronic parts, including motor vehicles. The Finance Ministry of Japan stated that imports have risen 12.5 per cent from a year earlier to 9.89 trillion yen, on purchases of communication devices. On the other hand, the data revealed that the oil import of Japan plunged &nbsp;57.3 per cent to 4.73 million kilolitres as the West Asia conflict disrupted shipping through the Strait of Hormuz.&nbsp;Also read: <a href="https://www.wionews.com/photos/what-is-the-per-capita-income-of-g7-nations-and-where-does-india-stand-1781703447882">What is the per capita income of G7 nations and where does India stand?</a><h3>Japan's alternative ways during conflicts</h3>In response, Japan has stepped up efforts to secure fuel from alternative suppliers, including the United States, after U.S.-Israeli strikes on Iran that began on February 28 effectively shut down the key maritime route. Imports of U.S. crude oil rose 24.0 per cent to 576,000 kilolitres. Earlier this week, the Bank of Japan (BOJ) increased its short-term policy rate from 0.75 per cent to 1.0 per cent, marking its highest level since 1995. The decision was approved by a 7-1 vote of the Policy Board and took effect on Wednesday. The interest rate on the complementary deposit facility, which applies to current account balances held by financial institutions excluding required reserves, was raised to 1.0 per cent. Meanwhile, the basic loan rate under the complementary lending facility remained unchanged at 1.25 per cent.

Japan recorded a USD 2.34 billion trade deficit in May, its first in four months, despite exports rising 17%. Crude oil imports plunged 57.3% as Strait of Hormuz disruptions hit supplies, prompting Japan to boost fuel purchases from the United States.

Japan recorded a trade deficit of nearly USD 2.34 billion (378.6 billion yen) in May, marking the first deficit in four months, according to the government data released on Wednesday. However, the deficit of Japan in May was 42.8 per cent lower than the same month of the previous year. The report also indicated that Japan's crude oil imports fell sharply, declining by over 57 per cent in volume amid the ongoing West Asia conflict. Meanwhile, exports significantly surged 17.0 per cent to 9.51 trillion yen on robust demand for semiconductor and other electronic parts, including motor vehicles. The Finance Ministry of Japan stated that imports have risen 12.5 per cent from a year earlier to 9.89 trillion yen, on purchases of communication devices. On the other hand, the data revealed that the oil import of Japan plunged 57.3 per cent to 4.73 million kilolitres as the West Asia conflict disrupted shipping through the Strait of Hormuz. Also read: What is the per capita income of G7 nations and where does India stand? Japan's alternative ways during conflicts In response, Japan has stepped up efforts to secure fuel from alternative suppliers, including the United States, after U.S.-Israeli strikes on Iran that began on February 28 effectively shut down the key maritime route. Imports of U.S. crude oil rose 24.0 per cent to 576,000 kilolitres. Earlier this week, the Bank of Japan (BOJ) increased its short-term policy rate from 0.75 per cent to 1.0 per cent, marking its highest level since 1995. The decision was approved by a 7-1 vote of the Policy Board and took effect on Wednesday. The interest rate on the complementary deposit facility, which applies to current account balances held by financial institutions excluding required reserves, was raised to 1.0 per cent. Meanwhile, the basic loan rate under the complementary lending facility remained unchanged at 1.25 per cent.

Japan recorded a USD 2.34 billion trade deficit in May, its first in four months, despite exports rising 17%. Crude oil imports plunged 57.3% as Strait of Hormuz disruptions hit supplies, prompting Japan to boost fuel purchases from the United States.

Japan experiences USD 2.34 billion trade deficit in May, shortfall narrows 42.8% YoY

japan-trade-deficit

Japan Trade Deficit, News on Japan Trade Deficit, stories on Japan Trade Deficit, articles on Japan Trade Deficit, Japan Trade Deficit stories at Wion, Japan Trade Deficit news, Japan Trade Deficit latest news

japan trade-deficit

India’s imports from Russia jump 57% in five months; China remains top import source

Japan experiences USD 2.34 b trade deficit in May, shortfall narrows 42.8% YoY