India’s trade deficit rises by 87.5 percent to USD 192.41 bn in FY22
- According to the data released by Ministry of Commerce and Industry, India’s trade deficit in 2021-22 rose by 87.5 percent to USD 192.41 billion.
- The trade deficit in 2020-21 was $102.63 billion.
- The total exports during 2021-22 increased to a record high of $417.81 billion, while imports increased to $610.22 billion, which led to a trade gap of $192.41 billion.
- A trade deficit is a situation which occurs when a country’s imports exceed its exports during a given time period.
Points to remember:
- What was the percentage rise inn trade deficit of India in FY22?
- What was the value of trade deficit in FY22?
- Definition of trade deficit? Import>Export
Source: Economic Times