According to the analysis of the Global Trade Research

Solution

According to the analysis of the Global Trade Research Initiative (GTRI),the country's total exports and imports of goods and services is to cross the USD 800 billion mark during the first half of 2023, despite a slowdown in global demand.   Exports of goods and services rose by 1.5 percent to USD 385.4 billion during January-June in 2023, as against USD 379.5 billion in January-June 2022.  Imports, however, dipped by 5.9 percent to USD 415.5 billion during the six months of 2023, as against USD 441.7 billion in January-June 2022.    Standalone, goods exports dipped by 8.1 percent to USD 218.7 billion, while imports contracted by 8.3 per cent to USD 325.7 billion.    On the other hand, services exports during the six months period grew by 17.7 per cent to USD 166.7 billion, while imports rose by 3.7 per cent to USD 89.8 billion.