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Searched Tag: trade deficit

India's exports decline 9.3 pc to USD 34.71 bn in August

September 17, 2024, 05:59 PM - 1 min read

India's August trade deficit widened to USD 29.65 billion as exports fell 9.3% and imports rose 3.3%, with cumulative exports for April-August up 1.14% and imports up 7%.

India faces trade deficit with top trading partners in 2023-24

India's trade deficit widens with top partners

May 26, 2024, 06:13 PM - 2 min read

In 2023-24, India recorded trade deficits with nine of its top ten partners, including increased deficits with China, Russia, Korea, and Hong Kong. The overall trade deficit narrowed to USD 238.3 billion, but experts warn that a rising deficit pressures the currency and may indicate economic instability.

India's current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday.

RBI reports India's current account deficit drops to $10.5 billion in October-December

March 26, 2024, 06:23 PM - 2 min read

The merchandise trade deficit at USD 71.6 billion was marginally higher than USD 71.3 billion during the third quarter of 2022-23. Services exports grew by 5.2 per cent on a year-on-year basis on the back of rising exports of software, business and travel

India's exports surge 11-month high despite Red Sea disruptions, trade deficit improves

March 15, 2024, 08:24 PM - 2 min read

Despite the challenges posed by the geopolitical crisis in the Red Sea region, India's overall trade deficit improved by 37.80% from April-February 2022-23 to April-February 2023-24, falling to $72.24 billion. The merchandise trade deficit decreased by 8.43% to $225.20 billion during the same period.

Commerce and Industry minister Piyush Goyal has exuded confidence that during this fiscal, the country's goods and services export numbers will be at the same level; as it was last year despite slowdown and uncertainties in the global trade.

"India’s exports will close fiscal at same level as last year despite uncertainties": Piyush Goyal

March 12, 2024, 02:44 PM - 2 min read

"I am happy to share with you that we close the current year in March at the same level as last year. We have a little bit of an adjustment between goods and services, but collectively we will be at the same level as last year, which will be a very, very significant achievement given that most developing countries and less developed countries are seeing a fall in their international trade," said Goyal.