TRADE DEFICIT WIDENS 9.4% IMPORTS
OUTPACE EXPORTS - ECONOMY / EXTERNAL SECTOR
WHY IN NEWS?
India’s merchandise Export grew for 2.55% to $35.2 billion but the
import climbed 5% to $56.2 billion widening trade deficit by 9.4% from
year ago.
Major export contributors:
Engineering 10.3%
Electronics 16.9%
Drugs & Pharmaceuticals 9.9%
Chemicals 3.3%
Major imports contributors:
Gold
Silver
Electronics
Pulses
Trade deficit
- A trade deficit is an amount by which the cost of a country's
imports exceeds its exports.
- It's one way of measuring international trade, and it's also called
a negative balance of trade.
- A trade deficit can be calculated by subtracting the total value of
a country's exports from the total value of its imports.
SOURCE:https://www.thehindu.com/business/Economy/indias-exports-rise-to-352-billion-us-dollars-in-june/article68406106.ece