Trade Deficit

Policy focus must shift from imports to exports

The exports from July 2022 to March this year were recorded at $21.046 billion against the exports of $23.350 million in the same period of last fiscal year

Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23

January merchandise exports were $32.91 billion compared with $34.48 billion in December, while imports were at $50.66 billion against $58.24 billion in December, according to government data

The Indian economy is a 'bright star' growing at about 7 per cent, the fastest rate among major economies

According to the Finance Ministry, the country logged a 19.97 trillion yen ($155 billion) deficit for 2022

The government is also looking for ways to separate commodities that come under the same Harmonized System of Nomenclature (HSN) code for imposing duties

The trade deficit, difference between import and exports, between India and China has touched USD 51.5 billion during April-October this fiscal, Parliament was informed on Friday. The deficit during 2021-22 had jumped to USD 73.31 billion as compared to 44.03 billion in 2020-21, according to the data provided by commerce and industry minister Piyush Goyal in a written reply to the Rajya Sabha. According to the data, imports during April-October this fiscal stood at USD 60.27 billion, while exports aggregated at USD 8.77 billion. He said that the merchandise exports from India to China have increased from USD 11.93 billion in 2014-15 to USD 21.26 billion in 2021-22, showing an increase of 78.2 per cent over the last six years. Imports from China, on the other hand, have increased from USD 60.41 billion in 2014-15 to USD 94.57 billion in 2021-22. "The trade deficit with China in 2004-05 was USD 1.48 billion, which increased to USD 36.21 billion in 2013-14, an increase of 2,346 per c

Since the quality control order 3 years ago, toy import down 70 per cent

New Zealand's total trade deficit increased in the September 2022 quarter to NZ$7.5 billion ($4 billion), driven by increases in import prices, the country's statistics department said on Friday

The rupee settled at 81.65 per US dollar on Thursday as against 81.31 per dollar at previous close

Trade weakness would affect growth

Imports during October increased to $56.69 billion against $53.64 billion in October 2021

India has raised its "serious" concerns over the growing trade deficit with Korea, which stood at about USD 9.5 billion in 2021-22, an official statement said on Friday. The issue came up for discussion during the ninth 9th round of the India-Korea comprehensive economic partnership agreement up-gradation negotiation, which was held in Seoul on November 3-4. The two sides underlined the need to have negotiations based on a win-win approach and are forward-looking and outcome-oriented. During the meeting, sub-groups on trade in goods, services, rules of origin, investment, sanitary and phytosanitary/technical barriers to trade issues held in-depth discussions. "India raised serious concerns on the growing trade deficit between the two countries and discussed market access issues. Both sides agreed to work closely to address tariff and non-tariff barriers and deepen the relationship in the services sector," the commerce ministry said. They also shared a common view that both sides .

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The current spread is nearly 142 bps lower than the 10-year average spread of 518 bps, and 66 bps lower than the 20-year average spread of 442.3 bps

Japan posted a record trade deficit in August as costs for imports of oil and gas soared, the government reported on Thursday. The 2.82 trillion yen (USD 19.6 billion) deficit, the 13th in a row, was triple the deficit logged in the same month a year earlier. Customs-data showed exports rose 22 per cent from a year earlier as regional economies recovered from pandemic-related disruptions while imports soared 50 per cent. Energy-related imports from the Middle East accounted for about half of the deficit. Japan's currency, the yen, has weakened sharply against the US dollar as the Federal Reserve has raised interest rates to counter inflation. Surging prices for many commodities and other products are also pushing Japan's imports higher.

A relatively slower growth in IT Services exports has made India ever more dependent on capital inflows and workers remittances to fund its trade and the overall current account deficit

Merchandise exports decline to a five-month low of $36.27 billion in July

The IMF revised India's growth downward, and data from the commerce ministry show that the trade deficit is widening