• UGI USER
  • May 27, 2024
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INDIA FACES TRADE DEFICIT WITH NINE OF TOP TRADING PARTNERS

Why in the news?

  • India experienced a trade deficit in 2023-24 with nine of its top 10 trading partners, including China, Russia, and Singapore, among others, according to official data.
  • The deficit widened with China, Russia, Korea, and Hong Kong compared to the previous fiscal year, while it narrowed with the UAE, Saudi Arabia, Indonesia, and Iraq.

About Global Trade Research Initiative (GTRI) :

  • Global Trade Research Initiative (GTRI) focuses on delivering clear, high-quality information for governments and industries concerning trade, technology, and investment.
  • GTRI offers insights into export-import markets and conducts world trade analysis.
source:slideserve
What is the Trade deficit?

  • Trade deficit: Imports exceed exports, indicating negative balance of trade.
  • Measures international trade imbalance.
  • Calculated by subtracting total export value from total import value.
  • Component of Current Account Deficit (CAD).
  • Reflects international trade imbalance in a country’s economy.

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