India’s trade deficit rises by 87.5 percent to USD 192.41 bn in FY22

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:

  1. What was the percentage rise inn trade deficit of India in FY22?
  2. What was the value of trade deficit in FY22?
  3. Definition of trade deficit? Import>Export

Source: Economic Times

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