Which of the following is/are not true with respect to India's trade deficit,imports & exports ?

I.According to the data provided by the government,India's merchandise trade deficit fell to $30.58 billion in November 2023.

II.India’s overall exports (Merchandise and Services combined) in November 2023 is estimated to be USD 74.58 Billion, exhibiting a positive growth.

III.Overall imports in November 2023 is estimated to be USD 67.88 Billion.

Solution

India's merchandise trade deficit fell to $20.58 billion in November, according to government data released. It was primarily driven by a fall in imports, by 4.3 per cent, to $54.48 billion. The exports, however, fell less sharply by 2.8 per cent to $33.90 billion from $34.89 billion a year ago. During the April-November period of this financial year, exports contracted by 6.51 per cent to $ 278.8 billion. Imports during the eight-month period fell by 8.67 per cent to $445.15 billion. India’s overall exports (Merchandise and Services combined) in November 2023 is estimated to be USD 62.58 Billion, exhibiting a positive growth. Overall imports in November 2023 is estimated to be USD 67.88 Billion.