Trade Deficit

Rahul Gandhi hits out at govt over trade deficit touching all-time high

Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation. Tagging a media report which said that trade deficit and imports are at an all-time high, Gandhi hit out at the government. "What happens when a government prioritises crony businesses over play-fair businesses?" Gandhi said. "Result: Weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation," he said in a post on X. After recording double-digit growth in October, India's exports in November contracted by 4.85 per cent year-on-year to USD 32.11 billion, while the trade deficit widened to an all-time high of USD 37.84 billion due to record surge in gold imports. According to the commerce ministry d

'If they tax us, we tax them': Trump threatens reciprocal tariffs on India

US President-elect Donald Trump vows reciprocal tariffs on India, criticising high taxes on US goods

Markets today: Nasdaq; Toss The Coin, Jungle Camps listing; US Fed meeting

Early indicators point to a weaker start, as GIFT Nifty futures were trading 51 points lower at 24,687 around 6:31 AM

India's merchandise trade deficit widens to $37.8 billion in November

Economists had expected the country's November trade deficit to be $23.9 billion

Canada records bigger-than-expected trade deficit of $657.6 mn in Oct

Exports rose after three straight months of declines despite eight of the 11 export product sections being down

India's current account deficit may widen to 1% of GDP in Q2FY25: Ind-Ra

According to India Ratings and Research, India's current account deficit (CAD) is expected to rise to 1% of GDP in Q2FY25, with a 1% increase in merchandise exports and a widening goods trade deficit

Cheap Chinese exports prompt 'protectionist' response from Southeast Asia

Economic discontent towards China has intensified in Southeast Asia as Chinese companies with surplus inventory are selling goods at give-away prices

India's trade deficit narrows in June; exports fall to 7-month low

Growth in merchandise exports fell to 2.6% amid muted demand overseas

'Narrowing trade deficit, rise in remittances aid current account surplus'

India's current account surplus in the fourth quarter of the 2023-24 fiscal was aided by narrowing of the merchandise trade deficit, an increase in remittances and a surplus in services trade, according to a CRISIL report released on Wednesday. The country's current account recorded a surplus of USD 5.7 billion, which is 0.6 per cent of the GDP, in the fourth quarter of the last financial year. It was in deficit of USD 8.7 billion, equivalent to one per cent of GDP, in the third quarter of the 2023-24 fiscal, the report said. In the corresponding fourth quarter of 2022-23, the country's current account was also in deficit of USD 1.3 billion, which was 0.2 per cent of the GDP. "The improvement in current account balance to 0.6 per cent of GDP surplus in Q4 fiscal 2024, from a deficit of 0.2 per cent of GDP a year ago reflects improvement on all three fronts i.e. merchandise trade deficit narrowed, services trade surplus increased and remittances rose," the CRISIL report said. Finan

Adopting global standards to help India improve quality of goods: GTRI

Steps such as adoption of international standards, using risk-based regulations, and modern infrastructure development will help further improve quality of goods manufactured and exported from India, economic think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) also recommended support to small and medium enterprises, avoiding quality control orders becoming non-tariff barriers, regulatory impact assessment, developing globally acceptable standards and inking mutual recognition pacts with trading partners to strengthen India's quality systems. These suggestions come at a time when India is on the fast track to issue Quality Control Orders (QCOs) and Compulsory Registration Orders (CROs) with a view to curb imports of sub-standard goods from countries like China, boost domestic manufacturing and push exports of high-quality goods from the country. GTRI Founder Ajay Srivastava said that to fully capitalize on these initiatives, it is crucial to comprehensively .

China accelerates construction of automated, efficient, intelligent ports

/ -- A report from People's Daily: As one steps into the fully automated container terminal at Rizhao Port in east China's Shandong province, a remarkable sight unfolds - remote-controlled quay cranes precisely grabbing and releasing containers, automated rail-mounted cranes and unmanned container trucks working in coordination... Human operators are scarcely visible at the terminal, yet operations run smoothly and efficiently. As the first side-loading and parallel-layout fully automated container terminal in the world, the terminal employs China's BeiDou Navigation Satellite System and 5G technology, and has launched six domestically developed and industry-first innovative technologies, including a scheduling system for autonomous container trucks. The pioneering facility has made remarkable progress since it was put into use on Oct. 9, 2021 - its single-crane operational efficiency improved by 50 percent and overall costs lowered by 70 percent. Besides, the single-crane handling .

Decoded: How trade deals are ratified by India's partner countries

Trade experts said that Indian government officials generally reach out to their counterparts to discuss any major concern flagged by the trade partner's Parliament during FTA negotiations

Trade deficit narrows slightly to $69.4 billion in March, says US govt

Goods imports fell 1.6% to $263.8 billion. There were decreases in imports of motor vehicles and parts as well as industrial supplies and materials, which include crude oil

Japan records trade deficit for 3rd fiscal year despite recovering exports

Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak. The deficit was 5.89 trillion yen (USD 38 billion) for the fiscal year that ended in March, according to Finance Ministry data released on Wednesday. The biggest trade deficits were in the Middle East, mainly Saudi Arabia and the United Arab Emirates, as well as Australia and Indonesia. Japan had a trade surplus with the US and some European countries. Annual exports to China slipped slightly, declining for the first time in four years, although the latest monthly data show exports to China recovering, growing 12 per cent from the previous year. Robert Carnell, regional head of research Asia-Pacific at ING Economics, said strong technology-related exports were behind the jump in exports to China, while noting exports were also growing to other regions. We think exports will be the main engine for growth in the coming months, he said in a ...

India's exports shrink 3% in FY24 but tide is turning, says govt

India's trade deficit at 11-month low in March

Merchandise trade deficit in March stands at $15.6 billion, shows data

According to commerce ministry data released on Monday, the imports during 2023-24 stood at 677.24 billion, down 5.41 per cent from $715.97 billion in the preceding year

Japan's trade deficit falls, exports grow 12% as shipments jump in vehicles

Japan's exports grew nearly 12 per cent in January as shipments jumped in vehicles, auto parts and machinery, according to government data Wednesday. That helped the nation's trade deficit shrink to 1.76 trillion yen (USD 12 billion), or about half of what it was a year ago, as imports declined 9.6 per cent from the previous year. By region, exports grew to North America, the rest of Asia and the Middle East, while imports generally fell from all global regions. Imports, which have been declining on-month for nearly a year, totalled 9 trillion yen (USD 60 billion), with the biggest drops in oil, natural gas and iron ore. Exports totalled 7.3 trillion yen (USD 48 billion), marking the second straight month of growth, according to the Finance Ministry's preliminary report. The export rise was better than what analysts had expected at about a 10 per cent growth. Japan has slipped to become the world's fourth-largest economy, after the US, China and Germany, according to nominal gross

Steel imports hit five-year high in April-December amid soaring demand

India's steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year

Brazil's govt's deficit soars in 2023 to second-largest ever: Report

The shortfall follows a December primary deficit of 116.1 billion reais, impacted by 92.4 billion reais disbursements to settle court-ordered payments

Exports marginally up at $38.45 bn in December; trade deficit narrows

Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments