Increase in India’s trade deficit
Part of: Prelims and GS-III Economy
Context: As per preliminary foreign trade estimates, India’s merchandise exports rose 22.3% to $33.81 billion in February, while imports shot up 35% to surpass $55 billion, increasing the trade deficit to $21.2 billion.
Do you know?
- A trade deficit is an economic measure of international trade in which a country’s imports exceeds its exports.
(Trade Deficit = Total Value of Imports – Total Value of Exports)
News Source: TH