Page 2 - Trade Deficit

Export potential

The agricultural sector needs policy intervention

India's trade deficit fell to $20.58 billion in Nov as imports shrank 4.3%

Trade deficit: The exports, however, fell less sharply by 2.8% in November to $33.90 billion from $34.89 billion a year ago

India's April-Oct steel imports from China at four-year high

China, the world's top steel producer, exported mostly cold-rolled coil or sheets to India, followed by hot-rolled coil products, plates, and pipes, among others

Record merchandise trade deficit in Oct likely to be a one-off: Analysts

India's merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print in prior month. Imports jumped from $65 billion from $53.8 bn

Could turn more protectionist if trade deficit isn't reduced: EU to China

The European Union's top foreign policy official warned Friday that public sentiment in Europe could turn more protectionist if the region's trade deficit with China is not reduced. Josep Borrell, the EU high representative for foreign affairs, called for improved access for European companies that want to export to or invest in China. He said that political leaders in Europe could face pressure from voters to disengage from the world's second-largest economy. And we don't want to disengage and much less, much less, to decouple from China, Borrell said in a speech at Peking University, one of China's top schools. The EU trade deficit with China topped USD 17 billion in September, bringing the total for the first nine months of the year to USD 170 billion, according to Chinese trade figures released Friday. Borrell, who held talks later Friday with China's Foreign Minister Wang Yi, is the latest EU official to visit China as the two sides lay the groundwork for a leaders summit late

Current account deficit widens to 1.1% of GDP in June qtr at $9.2 bn

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

India's exports shrink 6.9% in August; trade deficit hits 10-month high

Govt assures 'greenshoots' are clearly visible

Exports decline 7% to $34.48 bn in Aug, trade deficit stands at $24.16 bn

During April-August this fiscal, exports contracted by 11.9 per cent to $172.95 billion

India's gold imports surges 40%, threatens to blow out trade deficit

The value of inbound gold shipments grew to $4.9 billion in August from $3.5 billion a year earlier, according to a person familiar with the matter

Trade deficit falling at rapid pace, exports to see growth: Piyush Goyal

India's trade deficit is falling at a rapid pace and the exports are expected to see positive growth in the coming months, Commerce and Industry Minister Piyush Goyal said on Thursday. He said that countries in the world are facing a slowdown and global trade is relatively weak right now. Given the challenging situation, high interest rates, and cut down in discretionary spending have led to a fall in the exports of readymade apparel and the gem and jewellery sector, the minister said adding lower petroleum prices have resulted in lower export numbers. All in all, trade continues to be robust, our trade deficit is falling rapidly. And India will continue to benefit significantly from our global outreach, Goyal told PTI. When asked if he expects the country's merchandise exports to come in positive growth from September, he said, "I do believe it is possible". India's exports contracted by 15.88 per cent in July, the sixth straight month of decline, to USD 32.25 billion this year d

Trade deficit widens to $20.67 bn in July compared to $20.13 bn in June

Merchandise exports in July stood at $32.25 billion, down from $32.87 billion in June and $38.34 billion in July 2022

Indian exports face bigger threat from Asia-Pacific than West: CRISIL

CRISIL also said that the share of the US and the EU in India's goods exports has been on the rise since 2021 and it is eating into the share of the APAC region

India's trade deficit falls to $20.13 bn in June from $22.1 bn in May

Services exports in June were $27.12 billion, while imports were $15.88 billion

Debt-trapped Pakistan slashes trade deficit by 43 per cent in FY23

Cash-strapped Pakistan has slashed its trade deficit by a staggering 43 per cent to USD 27.55 billion in the fiscal year 2023, according to a media report on Wednesday. The government's stringent control over imports played a vital role in this significant reduction, as it aimed to stabilise the country's critically low foreign exchange reserves and mitigate the risk of default. In the previous fiscal year 2022, the trade deficit had widened to a daunting USD 48.35 billion, causing concern about the country's economic stability, The Express Tribune newspaper reported. However, the government's strict administrative measures on imports and the impact of floods in 2022 negatively affected the domestic economy, resulting in a provisional growth rate of only 0.3 per cent in FY23, compared to 6.1 per cent in FY22. Recent data from the Pakistan Bureau of Statistics (PBS) said that imports decreased by 31 per cent to USD 55.29 billion in FY2023. This is a significant drop from the record

UK's duty benefit scheme withdrawal may impact Indian goods' exporters

The UK's decision to withdraw duty benefit scheme GSP may impact Indian exporters from certain labour-intensive sectors such as leather and textiles as they were the major beneficiaries, according to experts and traders. The UK is replacing the Generalised Scheme of Preferences (GSP) with a new Developing Countries Trading Scheme (DCTS) from June 19. Labour intensive sectors, including certain textile items, leather goods, carpets, iron & steel goods and chemicals may get impacted due to this. Global Trade Research Initiative (GTRI) said the US, European Union (EU), Australia, Japan and many other developed countries grant unilateral import duty concessions to developing countries under their GSP schemes. "As the UK has come out of the EU, it has designed its own GSP scheme. Each country sets a product-wise threshold limit, if a country's exports cross the limit, the GSP concessions stop. The UK withdrawing GSP concessions on labour intensive products was expected as the two ...

Chamber India to take delegation to global south nations: Abhinav Balyan

The Chamber of Commerce, Sustainable Development and Foreign Relations on Friday said it will be taking delegations to eight global south destinations to explore opportunities for Indian business with a view to increasing the country's exports. Global south region includes Africa, Latin America and the Caribbean, and Asia. Chamber of Commerce, Sustainable Development and Foreign Relations or Chamber India President & CEO Abhinav Balyan said that they are focusing on increasing exports and enhancing cooperation with the Global South nations. "We would be taking a delegation to 8 global south destinations to create more opportunities for Indian business and increase our exports," he said here at the Chamber India-Global South Meeting. He added that the chamber will organise these meetings in the state capitals with foreign delegations to explore business opportunities for all states. Information and Broadcasting Minister Anurag Thakur, Minister of State for Panchayati Raj Kapil ...

Exports contract for 4th straight month; trade deficit hits 5-month high

Imports decline 6.6% in May

Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist

Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31

Softer US dollar, better risk appetite push rupee to two-month high

The Indian unit has been gaining against the greenback and has appreciated 1.08 per cent in 2023

Pakistan's trade deficit narrows by over 35% in 1st nine months of FY23

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