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India Gulf Exports Plunge 16% in August Amid Intensifying Regional War Risks
M
Moneycontrol•13-10-2026, 15:25
India Gulf Exports Plunge 16% in August Amid Intensifying Regional War Risks
- •India's exports to the six-nation GCC dropped 15.93 percent year-on-year to $3.79 billion in August, reversing July's growth.
- •The sharp decline was driven by regional tensions, West Asia conflict disruptions, and heightened shipping risks around the Strait of Hormuz.
- •Petroleum product exports suffered the steepest fall, plunging 85.46 percent and accounting for four-fifths of the overall drop.
- •While most GCC nations saw declining Indian shipments, Oman bucked the trend with exports surging 127.74 percent.
- •India's monthly trade deficit with the bloc widened to $5.22 billion as exports fell faster than imports.
Key Questions Answered
India's exports to the GCC dropped by 15.93 percent in August due to heightened regional tensions from the West Asia conflict and continued disruptions, threats, and higher insurance premiums in the Strait of Hormuz.
While exports to major markets like the UAE and Saudi Arabia fell sharply, Oman bucked the trend by seeing its Indian exports surge by 127.74 percent to $596.79 million in August.
Petroleum products suffered the sharpest commodity-level decline, plunging 85.46 percent to $97.76 million and accounting for roughly four-fifths of the overall fall in exports to the bloc.
